south carolina state orp · looking ahead • fed on track for 2015 rate hike; gradual pace...
TRANSCRIPT
South Carolina State ORPTable of Contents
Backdated Performance DetailGlossary of Terms
SSgA S&P 500 Index N 3.10 CREF Equity Index Annuity 4.10 Vanguard Institutional Index Inst 5.102. MassMutual JPMorgan Disciplined Equity A 3.11 Vanguard Windsor II Adm 4.11 Amer Funds Fundamental Investors R6 5.11Historical Asset Allocation and Growth 2.1 Amer Funds Fundamental Investors A 3.12 Prudential Jennison Growth Z 4.12 Amer Funds American Mutual R6 5.12Dollar-Weighted Allocation 2.2 Franklin Dyna Tech A 3.13 Vanguard Mid Cap Index Instl 4.13 MFS Massachusetts Investors Growth R5 5.13Participant-Weighted Allocation 2.3 Columbia Mid Cap Index A 3.14 TIAA-CREF Small Cap Index Ret 4.14 Vanguard Mid Cap Index Inst 5.14Fund Monitor 2.4 Royce Premier Invmt 3.15 CREF Stock Annuity 4.15 Vanguard Small Cap Index Inst 5.15Fund Line-Up Statistics 2.5 Amer Funds EuroPacific Growth A 3.16 Amer Funds EuroPacific Growth R5 4.16 Oppenheimer International Growth I 5.16Performance Scorecard 2.6 Invesco Equity and Income A 3.17 CREF Social Choice Annuity 4.17 Vanguard Emerging Mkts Stock Index Adm 5.17Historical Crediting Rate 2.9 Alliance Bernstein 2045 Adv 3.18 TIAA-CREF Lifecycle 2055 Ret 4.18 Amer Funds American Balanced R6 5.18SSgA S&P 500 Index Class A 2.10 Alliance Bernstein 2040 Adv 3.19 TIAA-CREF Lifecycle 2050 Ret 4.19 Vanguard Target Retirement 2060 Inv 5.19Columbia Contrarian Core A 2.11 Alliance Bernstein 2035 Adv 3.20 TIAA-CREF Lifecycle 2045 Ret 4.20 Vanguard Target Retirement 2055 Inv 5.20Hartford Dividend & Growth HLS IA 2.12 Alliance Bernstein 2030 Adv 3.21 TIAA-CREF Lifecycle 2040 Ret 4.21 Vanguard Target Retirement 2050 Inv 5.21Highland Premier Growth Equity A 2.13 Alliance Bernstein 2025 Adv 3.22 TIAA-CREF Lifecycle 2035 Ret 4.22 Vanguard Target Retirement 2045 Inv 5.22Munder Midcap Core Growth Y 2.14 Alliance Bernstein 2020 Adv 3.23 TIAA-CREF Lifecycle 2030 Ret 4.23 Vanguard Target Retirement 2040 Inv 5.23Baron Small Cap Retail 2.15 Alliance Bernstein 2015 Adv 3.24 TIAA-CREF Lifecycle 2025 Ret 4.24 Vanguard Target Retirement 2035 Inv 5.24Amer Funds EuroPacific Growth R5 2.16 Alliance Bernstein 2010 Adv 3.25 TIAA-CREF Lifecycle 2020 Ret 4.25 Vanguard Target Retirement 2030 Inv 5.25Oakmark Equity and Income I 2.17 Cohen & Steers Realty Shares 3.26 TIAA-CREF Lifecycle 2015 Ret 4.26 Vanguard Target Retirement 2025 Inv 5.26SSgA Target 2045 Class C 2.18 PIMCO Total Return Admin 3.27 TIAA-CREF Lifecycle 2010 Ret 4.27 Vanguard Target Retirement 2020 Inv 5.27SSgA Target 2035 Class C 2.19 SSgA Money Market N 3.28 TIAA-CREF Lifecycle Income Ret 4.28 Vanguard Target Retirement 2015 Inv 5.28SSgA Target 2025 Class C 2.20 Metlife Gold Track Select 3.29 Neuberger Berman Real Estate I 4.29 Vanguard Target Retirement 2010 Inv 5.29SSgA Target 2015 Class C 2.21 Dreyfus Bond Market Index Inv 4.30 Vanguard Target Retirement Income Inv 5.30SSgA Target Today Class C 2.22 CREF Inflation-Linked Bond Annuity 4.31 Vanguard Health Care Adm 5.31DWS RREEF Real Estate Sec A 2.23 CREF Money Market Annuity 4.32 Vanguard Interm Term Invest Grade Adm 5.32PIMCO Total Return A 2.24 TIAA Traditional Annuity 4.33 PIMCO Real Return Inst 5.33PIMCO Real Return Admin 2.25 VALIC Fixed Interest Option 5.34General Fixed Interest Account 2.26
1. Economy and Plan Overview 3. MetLife 4. TIAA-CREF 5. VALICEconomic and Capital Market Highlights 1.1 Historical Asset Allocation and Growth 3.1 Historical Asset Allocation and Growth 4.1 Historical Asset Allocation and Growth 5.1Annual Asset Class Performance 1.2 Dollar-Weighted Allocation 3.2 Dollar-Weighted Allocation 4.2 Dollar-Weighted Allocation 5.2Defined Contribution Market News 1.3 Participant-Weighted Allocation 3.3 Participant-Weighted Allocation 4.3 Participant-Weighted Allocation 5.3Provider Allocation 1.4 Fund Monitor 3.4 Fund Monitor 4.4 Fund Monitor 5.4Fee Summary 1.5 Fund Line-Up Statistics 3.5 Fund Line-Up Statistics 4.5 Fund Line-Up Statistics 5.5Lineup Comparison 1.6 Performance Scorecard 3.6 Performance Scorecard 4.6 Performance Scorecard 5.6Morningstar Ratings 1.7 Historical Crediting Rate 3.9 Historical Crediting Rate 4.9 Historical Crediting Rate 5.910-Year Crediting Rate Comparison 1.8
As of June 30, 2015
ECONOMIC
• The US economy continued to show modest improvement during the second quarter relative to the sluggish start to 2015. US Fed policy remained on track to begin interest rate normalization in 2015.
— Unemployment dropped to 5.3% due to the continued growth in non-farm payroll employment as well as declines in the labor force participation rate.
— US wages increased by 2.3% over the 12 months ending May.
— CPI rose 0.1% over the last 12 months as of quarter end. However, core CPI (excludes the cost of food and energy) rose 1.8% y-o-y in June, a sign inflation may be approaching the Federal Reserve’s goal.
— US GDP contracted 0.2% during the first quarter according to the final estimate from the Bureau of Economic Analysis.
— US crude oil futures rebounded 25% during the quarter and the Trade Weighted US Dollar Index fell by 1% against foreign currencies.
CAPITAL MARKETS
• Concerns regarding the Greek debt crisis weighed on equity markets, with most major indices falling more than 2% in the final week of the month.
• US stocks finished the quarter virtually flat while international equities outperformed modestly, aided by the falling US dollar.
• US small caps posted the highest and lowest returns within equity markets.
— Small cap growth stocks (+1.98% QTD) were aided by the Biotech sector (+10.17% QTD), which comprises over 11% of the index.
— Small cap value stocks (-1.20% QTD) were impacted by the sizable sell-off in REITs, which comprise 15% of the index.
• All fixed income sectors declined except for high yield bonds as the Greek debt crisis and the prospect of rising interest rates in the US caused a global sell off.
• REITs posted the lowest return among all asset classes (-8.95% QTD) due to their levered structure and expectations of higher costs of debt (rising rates).
Economic & Capital Market Highlights
LOOKING AHEAD
• Fed on track for 2015 rate hike; gradual pace expected.
• Resolution of Greek crisis provides regional market stability.
• Two countervailing trends to impact inflation risk: US wage growth (inflation), and China’s growth struggles (deflation).
Quarter 1 Year 3 Year 5 Year S&P 500 0.28 7.42 17.31 17.34 Russell 1000 Index 0.11 7.37 17.73 17.58 Russell 1000 Value Index 0.11 4.13 17.34 16.50 Russell 1000 Growth Index 0.12 10.56 17.99 18.59 Russell 2000 Index 0.42 6.49 17.81 17.08 Russell 2000 Value Index -1.20 0.78 15.50 14.81 Russell 2000 Growth Index 1.98 12.34 20.11 19.33 Russell 3000 Index 0.14 7.29 17.73 17.54 MSCI EAFE Index (Net) 0.62 -4.22 11.97 9.54 MSCI Emerging Markets (Net) 0.69 -5.12 3.71 3.69 Barclays Aggregate -1.68 1.86 1.83 3.35 Barclays US Treasury -1.58 2.31 0.89 2.74 Barclays US TIPS -1.06 -1.73 -0.76 3.29 Barclays US Corporate -3.16 0.75 3.23 5.11 Barclays US High Yield 0.00 -0.40 6.81 8.61 Barclays US Mortgage -0.74 2.28 1.92 2.89 Barclays Global Aggregate -1.18 -7.09 -0.81 2.07 NAREIT-All REIT Composite -8.95 3.37 8.54 13.86
MARKET PERFORMANCE
1.1
2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 YTD
Best 14.03 16.56 55.81 25.55 34.00 32.18 39.38 5.24 78.51 29.09 13.56 18.51 43.30 14.75 8.74
8.43 10.27 48.54 23.71 13.54 26.34 11.81 1.80 58.21 26.38 7.84 18.23 35.74 13.69 5.52
7.89 2.48 46.03 22.25 12.65 23.48 11.63 -0.02 46.29 24.75 4.98 18.05 34.52 13.45 4.18
5.27 1.70 42.71 20.25 12.10 22.25 11.43 -2.35 37.21 24.50 3.03 17.51 33.48 13.05 3.96
4.08 -1.37 38.59 16.49 7.05 20.22 11.17 -26.16 34.47 18.88 2.64 17.32 33.46 11.90 2.95
2.33 -6.17 38.07 15.48 5.26 15.79 7.05 -28.92 34.21 16.71 2.11 16.00 32.53 5.97 2.53
1.60 -9.65 30.03 14.31 4.91 13.35 6.97 -36.85 31.78 15.51 0.39 15.81 32.39 5.60 1.23
-2.62 -11.43 29.75 11.14 4.71 11.86 5.49 -37.00 26.46 15.12 0.06 15.81 22.78 4.22 0.76
-5.59 -15.52 28.96 10.88 4.15 10.66 4.74 -38.44 20.58 15.06 -1.38 15.26 7.44 3.64 0.64
-9.23 -15.94 28.68 8.46 3.34 9.07 4.11 -38.44 19.69 7.75 -1.65 14.59 1.53 2.45 0.41
-11.89 -22.10 8.39 6.30 3.01 4.76 1.87 -38.54 11.41 6.54 -2.91 6.98 0.06 0.68 0.34
-20.15 -27.41 4.11 4.34 2.84 4.34 -0.17 -43.38 5.93 6.31 -5.50 4.21 -2.02 0.02 0.01
-20.42 -27.88 2.04 3.34 2.74 2.52 -1.42 -44.32 2.81 1.44 -12.14 1.77 -2.60 -2.19 -0.10
-21.44 -30.26 1.09 1.24 2.43 0.49 -9.78 -53.33 0.16 0.10 -18.42 0.09 -8.61 -4.90 -0.61
S&P 500 Russell 1000Value
Russell 1000Growth
RussellMidcapValue
RussellMidcapGrowth
Russell 2000Value
Russell 2000Growth
MSCI EAFEIndex (Net)
MSCI EM(Net)* Barclays Agg Barclays US
High YieldBarclays US
TIPS3 Month T-
Bill CPI
Annual Asset Class PerformanceAs of June 30, 2015
1.2
Worst
Defined Contribution Market News As of June 30, 2015
Participant and Sponsor Behavior
● The Employee Benefits Research Institute (EBRI) released findings from its 25th Annual Retirement Confidence Survey.
— Retirement confidence has been on the rise since 2013 with 22% of respondents stating they were “very confident” compared to 18% in 2014.
— The percentage of people surveyed who have tried to calculate their retirement income needs has remained static over recent years at approximately 48%, suggesting that more than half of the population surveyed does not have a well-defined retirement income goal.
● A report issued by Northern Trust/Greenwald & Associates provided insight on participant preference for an auto-escalation feature.
— Of those sponsors who auto enroll participants, most enroll participants at 3% of annual pay.
— 25% of participants surveyed were willing to auto-escalate their contribution 1% per year to a maximum of 15%, 13% were willing to escalate to a maximum of 11% to 14% and 20% indicated they would be comfortable with a maximum of 10%.
— The report also indicated 29% of participants surveyed would favor a simpler menu of five well-diversified options with 30% opposed to the idea and 41% neutral.
Industry, Legal and Regulatory Updates
● A report published by the Investment Company Institute estimates total US retirement assets at $24.8 trillion including:
— $5.1 trillion in public defined benefit plans.
— $3.2 trillion in corporate defined benefit plans.
— $16.5 trillion in defined contribution plans, the majority of which ($7.6 trillion) are in IRA accounts following by $6.8 trillion in 401(k) plans.
● According to Morningstar, increased competition, lower-priced institutional share classes and greater use of passive management has resulted in a decrease in the average target-date fund expense ratio from 84 bps in 2013 to 78 bps in 2014.
— Vanguard, Fidelity and T. Rowe Price continue to dominate the industry with 27%, 27% and 17% market share, respectively.
● Blackrock is among a growing number of firms (incl. Fidelity, Federated, Vanguard) that have publicly announced plans to change their money market fund offerings in anticipation of new regulations effective October 2016 by defining which funds will be Retail (fixed NAV) versus Institutional (floating NAV).
● Public hearings on the DoL’s proposed fiduciary rule to address conflicts of interest are scheduled for August 10-13, 2015, following an extended public comment period ending July 21, 2015. It is anticipated that another comment period will occur following those hearings in an effort by the DoL to satisfy critics that industry stakeholders have not had enough time to debate the implications of the proposal.
Note: The above information is courtesy of Pensions & Investments and other industry sources. 1.3
As of June 30, 2015
VALIC 9,394 23%
MassMutual 7,547 18%
MetLife 7,660 18%
TIAA-CREF 17,075
41%
Participant-Weighted Allocation By Vendor Total Participants: 41,676
Note: Includes both Active and Terminated Participants
VALIC $368,677,926
22%
MassMutual $221,506,874
13%
MetLife $171,154,967
10%
TIAA-CREF $905,420,803
55%
Dollar-Weighted Allocation By Vendor Total: $1,666,760,570
VALIC $9,772,202
22%
MassMutual $7,593,818
17%
MetLife $7,385,929
16%
TIAA-CREF $20,015,463
45%
Contributions By Vendor Total 2Q2015 Contributions: $44,767,412
Note: Includes both Employer and Employee Contributions YTD 2015 Contributions = $87,592,088
1.4
South Carolina ORP Total Plan Allocation
Notes:*The Total Dollar-Weighted Asset-Based Fee for Metlife includes an 15 bps Admin Charge. **TIAA-CREF has provided an explicit fee on its Traditional Annuity of 55 bps including 15 bps of revenue share. This was not included to maintain consistency of methodology.***The Total Dollar-Weighted Asset-Based Fee for VALIC includes a 23 bps Admin Charge. Revenue share is updated on an annual basis every fiscal year, market values and fund expense ratios are updated quarterly.All vendor dollar-weighted fees are artificially low due to high allocations to fixed interest funds which do not have an explicit expense ratio.
Vendor Fee ComparisonAs of June 30, 2015
0.44%
0.23%
0.67%
0.41% 0.41%
0.82%
0.29% 0.24%
0.53%
0.21% 0.22%
0.43%
0.00%
0.10%
0.20%
0.30%
0.40%
0.50%
0.60%
0.70%
0.80%
0.90%
Investment Management Fees Non-Investment Management Fees Total Asset-Based Fees
Unweighted Vendor Fee Comparison
MassMutual MetLife* TIAA-CREF** VALIC***
0.42%
0.20%
0.62%
0.38% 0.36%
0.74%
0.20% 0.20%
0.40%
0.00%
0.10%
0.20%
0.30%
0.40%
0.50%
0.60%
0.70%
0.80%
0.90%
Investment Management Fees Non-Investment Management Fees Total Asset-Based Fees
Dollar-Weighted Vendor Fee Comparison
MassMutual MetLife* TIAA-CREF** VALIC***
0.27% 0.23%
0.50%
1.5
Large CoreSSgA S&P 500 Index CIT [P] /
Columbia Contrarian Core A (LCCAX) SSgA S&P 500 Index Instl (SVSPX) [P] / JPMorgan Disciplined Equity A (JDEAX)
CREF Equity Index Annuity Vanguard Instl Index Inst (VINIX) [P] / Amer Funds Fundamental Invs R6 (RFNGX)
Large ValueHartford Dividend and Growth HLS IA
(HIADX)American Funds Fundamental Invs A
(ANCFX)Vanguard Windsor II Adm (VWNAX) Amer Funds American Mutual R6 (RMFGX)
Large GrowthHighland Premier Growth Equity A
(HPEAX)Franklin DynaTech A (FKDNX) Prudential Jennison Growth Z (PJFZX) MFS Mass Inv Growth Stock R5 (MIGNX)
Mid/SMIDMunder Mid-Cap Core Growth Y (MGOYX) Columbia Mid Cap Index A (NTIAX) [P] Vanguard Mid Cap Index Inst (VMCIX) [P] Vanguard Mid Cap Index Inst (VMCIX) [P]
(P)Vanguard Small Cap Index Inst (VSCIX) [P]
Small Value - - - -
Small Growth Baron Small Cap Retail (BSCFX) - - -
Large CoreAmerican Funds EuroPacific Gr R5 (RERFX) American Funds EuroPacific Gr A (AEPGX) American Funds EuroPacific Gr R5 (RERFX)
/ CREF Stock Annuity-
Large Value - - - -
Large Growth - - - Oppenheimer Intl Growth I (OIGIX)
Emerging - - -Vanguard Emg Mkts Stock Index Adm
(VEMAX) [P]
- -Dreyfus Bond Market Index Inv (DBMIX)
[P]Vanguard Interm Invest Grade Adm (VFIDX)
[P]PIMCO Total Return A (PTTAX) PIMCO Total Return Admin (PTRAX) - -
Inflation Hedge TIPS / Real Assets PIMCO Real Return Admin (PARRX) - CREF Inflation-Linked Bond Annuity PIMCO Real Return Inst (PRRIX)
Target Date / Balanced
Mixed AssetsSSgA Dow Jones Target CIT [P] /
Oakmark Equity & Income I (OAKBX)AllianceBern Retirement Strat Adv / Invesco Equity and Income A (ACEIX)
TIAA-CREF Lifecycle Retire Vanguard Target Retire Inv [P] / Amer Funds American Balanced R6 (RLBGX)
Cash & Equivalents
Money Market / Stable Value
General Fixed Interest Account SSgA Money Market Instl (SSMXX) / MetLife Gold Track Select
CREF Money Market Annuity / TIAA Traditional Annuity
VALIC Fixed Interest
OtherIndustry Sector /
Socially Responsible
DWS RREEF Real Estate Secs Inst (RRRAX) Cohen & Steers Realty Shares (CSRSX) Neuberger Berman Real Estate I (NBRIX) / CREF Social Choice Annuity
Vanguard Health Care Adm (VGHAX)
As Of June 30, 2015
[P] = Passive Index Fund.CIT = Commingled investment trust.
Asset Class
Domestic Equity
International Equity
Fixed Income Core Plus
TIAA-CREF Small Cap Index Ret (TRBIX) Small Core - Delaware Small Cap Core (DCCIX)
1.6
MassMutual MetLife TIAA-CREF VALIC
South Carolina ORP Fund Line-Up Comparison
South Carolina State ORPVendor Morningstar RatingsAs of June 30, 2015
Fund Name TickerThree-Year Five-Year Ten-Year Overall Fund Name Ticker
Three-Year Five-Year Ten-Year Overall
American Funds Europacific Growth R5 RERFX 4 3 5 4 AllianceBern 2010 Retirement Strat Adv LTDVX 4 3 - 3Baron Small Cap Retail BSCFX 3 3 3 3 AllianceBern 2015 Retirement Strat Adv LTEVX 4 3 - 3Columbia Contrarian Core A LCCAX 3 3 5 4 AllianceBern 2020 Retirement Strat Adv LTHVX 4 3 - 3Deutsche Real Estate Securities A RRRAX 1 2 2 2 AllianceBern 2025 Retirement Strat Adv LTIVX 4 2 - 3Hartford Dividend and Growth HLS IA HIADX 3 4 5 4 AllianceBern 2030 Retirement Strat Adv LTJVX 4 3 - 3Highland Premier Growth Equity A HPEAX 3 3 3 3 AllianceBern 2035 Retirement Strat Adv LTKVX 4 2 - 3Munder Mid-Cap Core Growth Y MGOYX 3 4 3 3 AllianceBern 2040 Retirement Strat Adv LTLVX 4 3 - 3Oakmark Equity & Income I OAKBX 4 3 5 4 AllianceBern 2045 Retirement Strat Adv LTPVX 4 2 - 3PIMCO Real Return Admin PARRX 3 4 4 4 American Funds Europacific Growth A AEPGX 2 2 3 2PIMCO Total Return A PTTAX 2 2 4 3 American Funds Fundamental Invs A ANCFX 2 2 4 3SSgA Dow Jones Target 2015 Fund Class C - 1 2 - 2 Cohen & Steers Realty Shares CSRSX 4 3 4 4SSgA Dow Jones Target 2025 Fund Class C - 2 2 - 2 Columbia Mid Cap Index A NTIAX 3 3 4 4SSgA Dow Jones Target 2035 Fund Class C - 3 2 - 2 Delaware Small Cap Core DCCIX 5 5 4 5SSgA Dow Jones Target 2045 Fund Class C - 3 3 - 3 Franklin DynaTech A FKDNX 3 3 4 4SSgA Dow Jones Target Today Fund Class C - 1 2 - 2 Invesco Equity and Income A ACEIX 4 4 3 3SSgA S&P 500 Index Fund Class A - 3 4 4 4 JPMorgan Disciplined Equity A JDEAX 3 3 3 3
PIMCO Total Return Admin PTRAX 3 3 5 4SSgA Money Market N SSMXX - - - -SSgA S&P 500 Index N SVSPX 3 4 4 4
Fund Name TickerThree-Year Five-Year Ten-Year Overall Fund Name Ticker
Three-Year Five-Year Ten-Year Overall
American Funds Europacific Growth R5 RERFX 4 3 5 4 American Funds American Balanced R6 RLBGX 5 5 4 5CREF Equity Index - 4 4 3 4 American Funds American Mutual R6 RMFGX 3 4 5 4CREF Inflation-Linked Bond - 3 4 3 3 American Funds Fundamental Invs R6 RFNGX 4 3 5 3CREF Money Market - - - - - MFS® Massachusetts Investors Gr Stk R5 MIGNX 3 3 4 3CREF Social Choice - 3 3 3 3 Oppenheimer International Growth I OIGIX 4 4 5 4CREF Stock - 2 2 2 2 PIMCO Real Return Instl PRRIX 4 5 5 5Dreyfus Bond Market Index Inv DBMIX 2 2 2 2 Vanguard Emerging Mkts Stock Idx Adm VEMAX 3 3 3 3Neuberger Berman Real Estate I NBRIX 2 2 4 2 Vanguard Health Care Adm VGHAX 3 3 3 3Prudential Jennison Growth Z PJFZX 5 4 4 4 Vanguard Institutional Index I VINIX 4 4 4 4TIAA-CREF Lifecycle 2010 Retire TCLEX 5 5 4 5 Vanguard Interm-Term Invest-Grde Adm VFIDX 3 3 4 4TIAA-CREF Lifecycle 2015 Retire TCLIX 5 5 3 4 Vanguard Mid Cap Index I VMCIX 4 5 4 4TIAA-CREF Lifecycle 2020 Retire TCLTX 5 4 4 4 Vanguard Small Cap Index I VSCIX 4 4 4 4TIAA-CREF Lifecycle 2025 Retire TCLFX 5 4 3 4 Vanguard Target Retirement 2010 Inv VTENX 3 4 - 4TIAA-CREF Lifecycle 2030 Retire TCLNX 5 4 3 4 Vanguard Target Retirement 2015 Inv VTXVX 4 4 4 4TIAA-CREF Lifecycle 2035 Retire TCLRX 5 4 2 3 Vanguard Target Retirement 2020 Inv VTWNX 5 4 - 4TIAA-CREF Lifecycle 2040 Retire TCLOX 5 4 3 4 Vanguard Target Retirement 2025 Inv VTTVX 4 4 4 4TIAA-CREF Lifecycle 2045 Retire TTFRX 5 5 - 5 Vanguard Target Retirement 2030 Inv VTHRX 4 4 - 4TIAA-CREF Lifecycle 2050 Retire TLFRX 4 4 - 4 Vanguard Target Retirement 2035 Inv VTTHX 4 4 4 4TIAA-CREF Lifecycle 2055 Retire TTRLX 4 - - 5 Vanguard Target Retirement 2040 Inv VFORX 4 4 - 4TIAA-CREF Lifecycle Retire Inc Retire TLIRX 5 5 - 5 Vanguard Target Retirement 2045 Inv VTIVX 4 4 3 4TIAA-CREF Small-Cap Blend Idx Retire TRBIX 3 3 3 3 Vanguard Target Retirement 2050 Inv VFIFX 4 4 - 4Vanguard Mid Cap Index I VMCIX 4 5 4 4 Vanguard Target Retirement 2055 Inv VFFVX 4 - - 4Vanguard Windsor™ II Admiral™ VWNAX 3 4 4 4 Vanguard Target Retirement 2060 Inv VTTSX 4 - - 4
Vanguard Target Retirement Income Inv VTINX 4 4 5 5
MassMutual MetLife
VALIC TIAA-CREF
1.7
Quarter Ending
MetLife Gold Track Select
TIAA Guaranteed Annuity (GRA/RA)
TIAA Guaranteed Annuity (RC)
MassMutual General Declared Interest
VALIC Fixed Interest
Barclays Capital G/C Index
Sep-05 3.85% 4.50% 4.50% 3.75% 3.75% 5.12%Dec-05 3.85% 4.75% 4.75% 3.75% 3.75% 5.16%Mar-06 3.75% 4.75% 4.75% 3.50% 3.75% 5.20%Jun-06 4.00% 5.25% 5.25% 3.75% 3.75% 5.25%Sep-06 4.15% 5.25% 5.25% 4.00% 3.75% 5.30%Dec-06 4.05% 5.25% 5.25% 4.00% 3.75% 5.32%Mar-07 3.70% 5.25% 5.25% 4.00% 3.75% 5.36%Jun-07 3.70% 5.25% 5.25% 4.00% 3.75% 5.39%Sep-07 4.15% 5.25% 5.25% 4.00% 3.75% 5.42%Dec-07 3.65% 5.25% 5.25% 4.00% 3.75% 5.42%Mar-08 3.25% 5.25% 5.25% 3.75% 3.75% 5.33%Jun-08 3.00% 5.75% 5.75% 3.50% 3.75% 5.27%Sep-08 3.50% 6.00% 6.00% 3.40% 3.75% 5.18%Dec-08 3.00% 4.75% 4.75% 3.40% 3.75% 5.04%Mar-09 4.00% 4.00% 4.00% 3.00% 3.75% 4.78%Jun-09 3.00% 3.65% 3.65% 3.00% 3.75% 4.61%Sep-09 3.00% 3.65% 3.65% 3.00% 3.75% 4.45%Dec-09 3.00% 3.65% 3.65% 3.00% 3.75% 4.28%Mar-10 3.00% 4.00% 4.00% 3.00% 3.60% 4.16%Jun-10 3.00% 3.75% 3.75% 3.00% 3.60% 4.05%Sep-10 3.00% 3.35% 3.35% 3.50% 3.35% 3.92%Dec-10 3.00% 3.35% 3.35% 3.50% 3.35% 3.83%Mar-11 3.00% 3.85% 3.85% 3.25% 3.35% 3.81%Jun-11 3.00% 4.00% 4.00% 3.25% 3.35% 3.81%Sep-11 3.00% 3.75% 3.75% 3.00% 3.15% 3.72%Dec-11 3.00% 3.35% 3.35% 3.00% 3.00% 3.61%Mar-12 3.00% 3.00% 3.10% 3.00% 3.00% 3.46%Jun-12 3.00% 3.00% 3.15% 3.00% 3.00% 3.39%Sep-12 3.00% 3.00% 3.15% 3.00% 3.00% 3.29%Dec-12 3.00% 3.00% 3.15% 3.00% 3.00% 3.20%Mar-13 3.00% 3.00% 3.35% 3.00% 3.00% 3.13%Jun-13 3.00% 3.00% 3.35% 3.00% 3.00% 3.08%Sep-13 3.00% 3.75% 4.10% 3.00% 3.00% 3.07%Dec-13 3.00% 3.75% 4.10% 3.00% 3.00% 3.06%Mar-14 3.00% 3.75% 4.10% 3.00% 3.00% 3.05%Jun-14 3.00% 3.50% 3.85% 3.00% 3.00% 3.04%Sep-14 3.00% 3.50% 3.85% 3.00% 3.00% 3.04%Dec-14 3.00% 3.50% 3.85% 3.00% 3.00% 3.04%Mar-15 3.00% 3.50% 3.85% 3.00% 3.00% 3.01%Jun-15 3.00% 3.75% 4.10% 3.00% 3.00% 3.00%
South Carolina State ORP10-Year Credited Interest Rate vs. Barclays Capital Government/Credit
0.00%
1.00%
2.00%
3.00%
4.00%
5.00%
6.00%
7.00%
Sep-
05De
c-05
Mar
-06
Jun-
06Se
p-06
Dec-
06M
ar-0
7Ju
n-07
Sep-
07De
c-07
Mar
-08
Jun-
08Se
p-08
Dec-
08M
ar-0
9Ju
n-09
Sep-
09De
c-09
Mar
-10
Jun-
10Se
p-10
Dec-
10M
ar-1
1Ju
n-11
Sep-
11De
c-11
Mar
-12
Jun-
12Se
p-12
Dec-
12M
ar-1
3Ju
n-13
Sep-
13De
c-13
Mar
-14
Jun-
14Se
p-14
Dec-
14M
ar-1
5Ju
n-15
MetLife GoldTrack Select
TIAA GuaranteedAnnuity (GRA/RA)
TIAA GuaranteedAnnuity (RC)
MassMutual GeneralDeclared Interest
VALICFixed Interest
Barclays CapitalG/C Index
1.8
Historical Asset Allocation and GrowthAs of June 30, 2015
Historical Allocation Total Market Value of Assetsby Asset Class $221,506,874
South Carolina State ORP (MassMutual)
$221.5
$0
$50
$100
$150
$200
$250
Dec-
09M
ar-1
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n-10
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-11
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ar-1
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n-12
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-13
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ar-1
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-15
Jun-
15
$Mill
ions
0%
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50%
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80%
90%
100%
Dec-
09M
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Sep-
10De
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-11
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11Se
p-11
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11M
ar-1
2Ju
n-12
Sep-
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c-12
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-13
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13Se
p-13
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ar-1
4Ju
n-14
Sep-
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Mar
-15
Jun-
15
Domestic Equity International Equity SectorBalanced Target-Date Fixed IncomeGIC
2.1
4% 5%
9%
4%
8%
6%
8%
11% 10%
6%
4%
2% 0%
3% 3% 4%
16%
0%
5%
10%
15%
20%
25%SS
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MassMutual Dollar-Weighted Asset Allocation
2.2
12%
20%
29%
16%
32% 31% 34%
27%
24%
13%
9%
5% 2%
17% 18% 19%
26%
0%
10%
20%
30%
40%
50%SS
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MassMutual Participant-Weighted Asset Allocation
2.3
FundExcess
Performance1Peer
Universe Rank2Information Ratio Rank3
Sharpe Ratio Rank4 Other Status Change
US Equity: Large CapSSgA S&P 500 Index CIT (P) - - - - Pass Good 0Columbia Contrarian Core A (LCCAX) Pass Pass Pass Pass - Good 0Hartford Dividend & Growth HLS IA (HIADX) Fail Pass Pass Pass - Good 0Highland Premier Growth Equity A (HPEAX) Pass Pass Pass Pass - Good 1
0US Equity: Non-Large Cap 0Munder Midcap Core Growth Y (MGOYX) Fail Pass Pass Pass - Good 1Baron Small Cap Retail (BSCFX) Fail Fail Fail Pass - Watch List 7
0International Equity 0Amer Funds EuroPacific Growth R5 (RERFX) Pass Pass Pass Pass - Good 1
0Balanced Funds 0Oakmark Equity and Income I (OAKBX) Fail Pass Pass Pass - Good 2SSgA DJ Target Strat Target-Date Suite - - - - Fail Watch List 1
0Sector Fund 0DWS RREEF Real Estate Secs A (RRRAX) Fail Fail Fail Fail - Watch List 5 Down
0Fixed Income 0PIMCO Total Return A (PTTAX) Pass Fail Fail Fail - Watch List 2PIMCO Real Return Admin (PARRX) Fail Pass Pass Pass - Good 0
0Stable Value 0General Fixed Interest Account - - - - Pass Good 0
Source: Lipper
Methodology
(P) Passive Funds
Other:
For Passive funds, Other is defined as tracking error commensurate with the asset class (domestic equity & fixed income less than or equal to .50%, International equity less than or equal to 2.00%).
For Insurance or Stable Value products, Other is defined as insurer's credit quality and competitiveness of rate of return.
For Target-Date funds, Other is defined as two out of the three one, three, and five-year peer ranks place the entire suite of funds in the top half of its applicable peer universe.
Active Funds1Fund performance exceeds the return of the independent benchmark for at least two of the most recent one, three, and five-year trailing periods. 2Fund performance places it in the to half of its applicable peer universe for at least two of the most recent one, three, and five-year trailing periods. 3Information ratio places the fund in the top half of its applicable peer universe for at least two of the most recent one, three, and five-year trailing periods. 4Sharpe ratio places the fund in the top half of its applicable peer universe for at least two of the most recent one, three, and five-year trailing periods. 5Number represents the number of quarters (consecutive or non-consecutive) the fund has been on the watch list over the previous trailing 12 quarters.
South Carolina State ORP (MassMutual)Fund MonitorAs of June 30, 2015
Primary Benchmarks Secondary Benchmarks # of Quarters on Watch List for Trailing
12 Quarters5
2.4
As of June 30, 2015
Domestic EquitySSgA S&P 500 Index Class A N/A 0.03% 1.34 12.72% 7.38% 17.27% 17.31% 22 23Columbia Contrarian Core A LCCAX 1.12% 1.28 14.24% 9.24% 19.29% 18.42% 7 7Hartford Dividend & Growth HLS IA HIADX 0.67% 1.24 12.67% 4.42% 16.38% 15.92% 33 31Highland Premier Growth Equity A HPEAX 1.16% 1.30 13.79% 12.17% 18.99% 18.23% 30 26Munder Mid-Cap Core Growth Y MGOYX 1.13% 1.19 14.81% 10.29% 18.26% 17.76% 23 32Baron Small Cap Retail BSCFX 1.30% 1.00 16.81% 4.05% 16.47% 16.42% 71 72International EquityAmer Funds EuroPacific Growth R5 RERFX 0.53% 0.70 15.50% 0.93% 12.65% 10.07% 18 43Balanced Oakmark Equity and Income I OAKBX 0.74% 1.08 10.09% 2.80% 11.99% 10.85% 16 39Target DateSSgA Dow Jones Target 2045 Class C N/A 0.45% 1.01 12.66% 2.48% 13.09% 12.68% 47 47SSgA Dow Jones Target 2035 Class C N/A 0.45% 1.02 11.22% 1.67% 11.26% 11.39% 75 76SSgA Dow Jones Target 2025 Class C N/A 0.45% 1.08 8.01% 0.14% 7.76% 8.70% 93 93SSgA Dow Jones Target 2015 Class C N/A 0.45% 1.15 4.89% -1.04% 4.16% 5.71% 87 87SSgA Dow Jones Target Today Class C N/A 0.45% 1.12 3.40% -1.09% 2.15% 3.89% 87 90SpecialtyDWS RREEF Real Estate Securities A RRRAX 0.96% 0.86 16.39% 2.78% 7.43% 13.52% 51 51Fixed IncomePIMCO Total Return A PTTAX 0.85% 0.96 3.71% 0.90% 2.05% 3.62% 74 53PIMCO Real Return Admin PARRX 0.70% 0.52 5.87% -3.29% -1.15% 3.00% 17 12Stable ValueGeneral Fixed Interest N/A - - - 3.00% 3.00% 3.07% - -1Higher number is better2Lower number is better
South Carolina State ORP (MassMutual)
Total Return Percentile Rank2
5 Year Lipper Peer Group
5 Year Morningstar Peer Group
Total Return5-Year Sharpe Ratio1Expense RatioTicker
5-Year Standard Deviation 1 Year 3 Year 5 YearFund
2.5
Fund Line-Up Statistics
Asset $ Asset %Expense
Ratio 3 Month CYTD 1 Year 3 Year 5 Year 10 YearDomestic Equity: Large Cap FundsSSgA S&P 500 Index Class A 7,783,916 3.51 3 0.27 43 1.21 47 7.38 28 17.27 36 17.31 22 7.90 28S&P 500 0.28 1.23 7.42 17.31 17.34 7.89Excess Return -0.01 -0.02 -0.04 -0.04 -0.03 0.01IM U.S. Large Cap Core Equity (MF) - - - - - - - - - - - -
Columbia Contrarian Core A (LCCAX) 10,888,644 4.92 112 1.70 7 2.88 14 9.24 9 19.29 7 18.42 7 10.29 3S&P 500 0.28 1.23 7.42 17.31 17.34 7.89Excess Return 1.42 1.65 1.82 1.98 1.08 2.40IM U.S. Large Cap Core Equity (MF) - - - - - - - - - - - -
Hartford Dividend and Growth HLS IA (HIADX) 18,913,297 8.54 67 0.04 67 -0.04 62 4.42 47 16.38 58 15.92 33 8.56 4Russell 1000 Value Index 0.11 -0.61 4.13 17.34 16.50 7.05Excess Return -0.07 0.57 0.29 -0.96 -0.58 1.51IM U.S. Large Cap Value Equity (MF) - - - - - - - - - - - -
Highland Premier Growth Equity A (HPEAX) 8,218,796 3.71 116 0.57 53 2.73 75 12.17 30 18.99 24 18.23 30 8.22 52Russell 1000 Growth Index 0.12 3.96 10.56 17.99 18.59 9.10Excess Return 0.45 -1.23 1.61 1.00 -0.36 -0.88IM U.S. Large Cap Growth Equity (MF) - - - - - - - - - - - -
Domestic Equity: Non-Large Cap FundsMunder Midcap Core Growth Y (MGOYX) 17,276,729 7.80 113 -0.73 45 5.28 17 10.29 9 18.26 46 17.76 23 9.19 24S&P MidCap 400 -1.06 4.20 6.40 18.60 17.82 9.74Excess Return 0.33 1.08 3.89 -0.34 -0.06 -0.55IM U.S. Mid Cap Core Equity (MF) - - - - - - - - - - - -
Baron Small Cap Retail (BSCFX) 13,269,490 5.99 130 -1.39 97 4.17 91 4.05 95 16.47 70 16.42 71 8.22 52Russell 2000 Growth Index 1.98 8.74 12.34 20.11 19.33 9.86Excess Return -3.37 -4.57 -8.29 -3.64 -2.91 -1.64IM U.S. Small Cap Growth Equity (MF) - - - - - - - - - - - -
International Equity FundAmer Funds EuroPacific Growth R5 (RERFX) 16,974,272 7.66 53 1.10 43 7.14 18 0.93 11 12.65 10 10.07 18 7.66 8MSCI AC World ex USA (Net) 0.53 4.03 -5.26 9.44 7.76 5.54Excess Return 0.57 3.11 6.19 3.21 2.31 2.12IM International Large Cap Equity (MF) - - - - - - - - - - - -
Balanced FundOakmark Equity and Income I (OAKBX) 24,259,228 10.95 74 0.06 6 0.97 63 2.80 21 11.99 6 10.85 16 7.88 260% S&P 500 / 40% Barclays Aggregate -0.51 0.79 5.28 10.98 11.76 6.79Excess Return 0.57 0.18 -2.48 1.01 -0.91 1.09IM Mixed-Asset Target Alloc Moderate (MF) - - - - - - - - - - - -
South Carolina State ORP (MassMutual)Performance Scorecard (net of fees)June 30, 2015
Performance(%) and Percentile Rank
2.6
Asset $ Asset %Expense
Ratio 3 Month CYTD 1 Year 3 Year 5 Year 10 Year
South Carolina State ORP (MassMutual)Performance Scorecard (net of fees)June 30, 2015
Performance(%) and Percentile Rank
Target-Date Retirement FundsSSgA Target 2045 Class C 21,108,953 9.53 45 -0.31 66 3.02 32 2.48 51 13.09 47 12.68 47 -Dow Jones Global Target 2045 Index -0.13 3.13 2.89 13.64 13.10 -Excess Return -0.18 -0.11 -0.41 -0.55 -0.42 -IM Mixed-Asset Target 2045 (MF) - - - - - - - - - - - -
SSgA Target 2035 Class C 12,699,565 5.73 45 -0.53 72 2.28 58 1.67 69 11.26 69 11.39 75 -Dow Jones Global Target 2035 Index -0.38 2.39 2.07 11.78 11.82 -Excess Return -0.15 -0.11 -0.40 -0.52 -0.43 -IM Mixed-Asset Target 2035 (MF) - - - - - - - - - - - -
SSgA Target 2025 Class C 8,249,125 3.72 45 -0.98 82 0.91 84 0.14 85 7.76 87 8.70 93 -Dow Jones Global Target 2025 Index -0.83 1.06 0.59 8.28 9.18 -Excess Return -0.15 -0.15 -0.45 -0.52 -0.48 -IM Mixed-Asset Target 2025 (MF) - - - - - - - - - - - -
SSgA Target 2015 Class C 3,843,200 1.74 45 -1.32 96 -0.25 97 -1.04 90 4.16 90 5.71 87 -Dow Jones Global Target 2015 Index -1.20 -0.10 -0.63 4.65 6.23 -Excess Return -0.12 -0.15 -0.41 -0.49 -0.52 -IM Mixed-Asset Target 2015 (MF) - - - - - - - - - - - -
SSgA Target Today Class C 614,584 0.28 45 -1.01 68 -0.31 92 -1.09 84 2.15 92 3.89 87 -Dow Jones Target Today Index -0.90 -0.14 -0.68 2.63 4.38 -Excess Return -0.11 -0.17 -0.41 -0.48 -0.49 -IM Mixed-Asset Target Today (MF) - - - - - - - - - - - -
Sector FundDWS RREEF Real Estate Securities A (RRRAX) 6,362,472 2.87 96 -11.34 97 -7.60 97 2.78 82 7.43 74 13.52 51 6.61 45MSCI US REIT Index -10.44 -6.19 3.93 8.72 14.29 6.96Excess Return -0.90 -1.41 -1.15 -1.29 -0.77 -0.35IM Real Estate Sector (MF) - - - - - - - - - - - -
Fixed Income FundsPIMCO Total Return A (PTTAX) 7,525,720 3.40 85 -1.93 73 0.15 45 0.90 58 2.05 79 3.62 74 5.28 31Barclays Aggregate -1.68 -0.10 1.86 1.83 3.35 4.44Excess Return -0.25 0.25 -0.96 0.22 0.27 0.84IM U.S. Broad Market Core+ Fixed Income (MF) -1.66 0.07 1.08 2.73 4.24 4.91
PIMCO Real Return Admin (PARRX) 8,187,513 3.70 70 -1.74 93 -0.27 76 -3.29 74 -1.15 48 3.00 17 4.14 8Barclays US Treasury: US TIPS -1.06 0.34 -1.73 -0.76 3.29 4.14Excess Return -0.68 -0.61 -1.56 -0.39 -0.29 0.00IM U.S. TIPS (MF) - - - - - - - - - - - -
2.7
Asset $ Asset %Expense
Ratio 3 Month CYTD 1 Year 3 Year 5 Year 10 Year
South Carolina State ORP (MassMutual)Performance Scorecard (net of fees)June 30, 2015
Performance(%) and Percentile Rank
Stable Value FundGeneral Fixed Interest Account (3.00%) 35,331,369 15.95 -- 0.74 1.49 3.00 3.00 3.07 3.3190 Day US Treasury Bill 0.01 0.02 0.03 0.05 0.07 1.38Excess Return 0.73 1.47 2.97 2.95 3.00 1.93
MassMutual Total 221,506,874 100.00 62 - - - - - - - - - - - -
2.8
0.00%
1.00%
2.00%
3.00%
4.00%
5.00%
6.00%
Dec-
04M
ar-0
5Ju
n-05
Sep-
05De
c-05
Mar
-06
Jun-
06Se
p-06
Dec-
06M
ar-0
7Ju
n-07
Sep-
07De
c-07
Mar
-08
Jun-
08Se
p-08
Dec-
08M
ar-0
9Ju
n-09
Sep-
09De
c-09
Mar
-10
Jun-
10Se
p-10
Dec-
10M
ar-1
1Ju
n-11
Sep-
11De
c-11
Mar
-12
Jun-
12Se
p-12
Dec-
12M
ar-1
3Ju
n-13
Sep-
13De
c-13
Mar
-14
Jun-
14Se
p-14
Dec-
14M
ar-1
5Ju
n-15
MassMutual Historical Crediting Rates
MassMutualOld Money Rates
MassMutualNew Money RatesNote: Formerly Hartford
2.9
Product Details Relative Performance *
Individual Portfolio Statistics - 3 Years
Style Analysis - 3 Years
3 Year Rolling Under/Over Performance * 3 Year Rolling Percentile Ranking (Return) *
Product Objective
3 Year Rolling Percentile Ranking (Tracking Error) *
Cumulative Annualized Relative Performance Over/Under Performance
0.00
0.02
0.04
-0.02
-0.04
-0.06
Retu
rn (%
)
7/10 1/11 7/11 1/12 7/12 1/13 7/13 1/14 7/14 1/15 6/15
Style History Jun-2015 Avg. Exposure
Capi
taliz
atio
n
Manager Style
Large Cap Growth
Small Cap GrowthSmall Cap Value
Large Cap Value
Product Name SSgA S&P 500 Index
Peer Group IM U.S. Large Cap Core Equity (MF)
Benchmark S&P 500 Index
Inception 05/01/1997
Total Fee 0.03%
Return StandardDeviation
SharpeRatio Beta R-Squared Tracking
ErrorInformation
Ratio Consistency UpCapture
DownCapture
SSgA S&P 500 Index Class A 17.27 8.43 1.94 1.00 1.00 0.02 -1.50 36.11 99.86 100.00S&P 500 17.31 8.43 1.94 1.00 1.00 0.00 - 0.00 100.00 100.0090 Day US Treasury Bill 0.05 0.02 - 0.00 0.05 8.44 -1.94 27.78 0.17 -0.23
Over Under Sep-2010 Jun-2015
-15.0
0.0
15.0
30.0
SSgA
S&P
500
Inde
x Cl
ass
A (%
)
-15.0 0.0 15.0 30.0
S&P 500 (%)
OverPerformance
UnderPerformance
SSgA S&P 500 Index Class A S&P 500
0
25
50
75
100
Retu
rn Pe
rcen
tile
Rank
9/10 6/11 3/12 12/12 9/13 6/14 6/15
SSgA S&P 500 Index Class A
0
25
50
75
100
Trac
king
Erro
r Pe
rcen
tile
Rank
9/10 6/11 3/12 12/12 9/13 6/14 6/15
SSgA S&P 500 Index Class A June 30, 2015
* 5 Year look back, if 5 years is not available, a since inception time period is used.
2.10
The Fund seeks to replicate as closely as possible theperformance of the Standard & Poor's 500 Index. The Fundseeks to achieve its objective by investing substantially allof its investable assets in a corresponding portfolio thatuses a passive management strategy designed to track the index.
Mutual Fund Details Relative Performance *
Individual Portfolio Statistics - 3 Years
Style Analysis - 3 Years
3 Year Rolling Under/Over Performance * 3 Year Rolling Percentile Ranking (Return) *
Fund Objective
3 Year Rolling Percentile Ranking (Tracking Error) *
Cumulative Annualized Relative Performance Over/Under Performance
0.00
2.00
4.00
6.00
-2.00
-4.00Re
turn
(%)
7/10 1/11 7/11 1/12 7/12 1/13 7/13 1/14 7/14 1/15 6/15
Style History Jun-2015 Avg. Exposure
Capi
taliz
atio
n
Manager Style
Large Cap Growth
Small Cap GrowthSmall Cap Value
Large Cap Value
Product Name : Columbia:Cntr Core;A (LCCAX)Fund Family : Columbia Threadneedle InvestmentsTicker : LCCAXPeer Group : IM U.S. Large Cap Core Equity (MF)Benchmark : S&P 500Fund Inception : 11/01/1998Portfolio Manager : Guy W. PopeTotal Assets : $2,256 MillionTotal Assets Date : 06/30/2015Gross Expense : 1.12%Net Expense : 1.12%Turnover : 65%
The Fund seeks total return, consisting of long-term capitalappreciation and current income. Normally, the Fund invests atleast 80% of its net assets in equity securities of U.S.companies that have large market capitalizations and that theadvisor believes have the potential for long-term growth andcurrent income.
Return StandardDeviation
SharpeRatio Beta R-Squared Tracking
ErrorInformation
Ratio Consistency UpCapture
DownCapture
Columbia Contrarian Core A (LCCAX) 19.29 9.11 1.99 1.06 0.96 1.79 0.98 58.33 107.47 99.18S&P 500 17.31 8.43 1.94 1.00 1.00 0.00 - 0.00 100.00 100.0090 Day US Treasury Bill 0.05 0.02 - 0.00 0.05 8.44 -1.94 27.78 0.17 -0.23
Over Under Sep-2010 Jun-2015
-15.0
0.0
15.0
30.0
Colu
mbi
a Co
ntra
rian
Core
A (L
CCAX
) (%
)
-15.0 0.0 15.0 30.0
S&P 500 (%)
OverPerformance
UnderPerformance
Columbia Contrarian Core A (LCCAX) S&P 500
0
25
50
75
100
Retu
rn Pe
rcen
tile
Rank
9/10 6/11 3/12 12/12 9/13 6/14 6/15
Columbia Contrarian Core A (LCCAX)
0
25
50
75
100Tr
acki
ng Er
ror
Perc
entil
e Ra
nk9/10 6/11 3/12 12/12 9/13 6/14 6/15
Columbia Contrarian Core A (LCCAX) June 30, 2015
* 5 Year look back, if 5 years is not available, a since inception time period is used.2.11
Mutual Fund Details Relative Performance *
Individual Portfolio Statistics - 3 Years
Style Analysis - 3 Years
3 Year Rolling Under/Over Performance * 3 Year Rolling Percentile Ranking (Return) *
Fund Objective
3 Year Rolling Percentile Ranking (Tracking Error) *
Cumulative Annualized Relative Performance Over/Under Performance
0.00
0.83
1.66
2.49
-0.83
-1.66
-2.49Re
turn
(%)
7/10 1/11 7/11 1/12 7/12 1/13 7/13 1/14 7/14 1/15 6/15
Style History Jun-2015 Avg. Exposure
Capi
taliz
atio
n
Manager Style
Large Cap Growth
Small Cap GrowthSmall Cap Value
Large Cap Value
Product Name : Hartfd:Div & Gr HLS;IAFund Family : Hartford Funds Management Company
LLCTicker :Peer Group : IM U.S. Large Cap Value Equity (MF)Benchmark : Russell 1000 Value IndexFund Inception : 03/09/1994Portfolio Manager : Team ManagedTotal Assets : $3,258 MillionTotal Assets Date : 06/30/2015Gross Expense : 0.67%Net Expense : 0.67%Turnover : 19%
The Fund seeks a high level of current income consistent withgrowth of capital. The Fund invests primarily in a portfolio ofcommon stocks that typically have above average dividendyields and whose prospects for capital appreciation areconsidered favorable by the sub-advisor.
Return StandardDeviation
SharpeRatio Beta R-Squared Tracking
ErrorInformation
Ratio Consistency UpCapture
DownCapture
Hartford Dividend and Growth HLS IA (HIADX) 16.38 8.34 1.87 0.94 0.97 1.64 -0.53 33.33 94.60 94.30Russell 1000 Value Index 17.34 8.76 1.88 1.00 1.00 0.00 - 0.00 100.00 100.0090 Day US Treasury Bill 0.05 0.02 - 0.00 0.04 8.76 -1.88 27.78 0.15 -0.30
Over Under Sep-2010 Jun-2015
-30.0
-15.0
0.0
15.0
30.0
rtfo
rd D
ivid
end
and
Gro
wth
HLS
IA (H
IAD
X) (
-30.0 -15.0 0.0 15.0 30.0
Russell 1000 Value Index (%)
OverPerformance
UnderPerformance
Hartford Dividend and Growth HLS IA (HIADX)
Russell 1000 Value Index
0
25
50
75
100
Retu
rn Pe
rcen
tile
Rank
9/10 6/11 3/12 12/12 9/13 6/14 6/15
Hartford Dividend and Growth HLS IA (HIADX)
0
25
50
75
100Tr
acki
ng Er
ror
Perc
entil
e Ra
nk9/10 6/11 3/12 12/12 9/13 6/14 6/15
Hartford Dividend and Growth HLS IA (HIADX) June 30, 2015
* 5 Year look back, if 5 years is not available, a since inception time period is used.2.12
Mutual Fund Details Relative Performance *
Individual Portfolio Statistics - 3 Years
Style Analysis - 3 Years
3 Year Rolling Under/Over Performance * 3 Year Rolling Percentile Ranking (Return) *
Fund Objective
3 Year Rolling Percentile Ranking (Tracking Error) *
Cumulative Annualized Relative Performance Over/Under Performance
0.00
3.00
6.00
-3.00
-6.00
-9.00Re
turn
(%)
7/10 1/11 7/11 1/12 7/12 1/13 7/13 1/14 7/14 1/15 6/15
Style History Jun-2015 Avg. Exposure
Capi
taliz
atio
n
Manager Style
Large Cap Growth
Small Cap GrowthSmall Cap Value
Large Cap Value
Product Name : Highland:Prem Gro Eq;A (HPEAX)Fund Family : Highland Capital Mgmt Fund Advisors LPTicker : HPEAXPeer Group : IM U.S. Large Cap Growth Equity (MF)Benchmark : Russell 1000 Growth IndexFund Inception : 12/31/1996Portfolio Manager : Team ManagedTotal Assets : $183 MillionTotal Assets Date : 06/30/2015Gross Expense : 1.16%Net Expense : 1.16%Turnover : 20%
The Fund seeks long-term growth of capital and future incomerather than current income by investing at least 80% of its netassets in equity securities. The Fund invests primarily in alimited number of large-, medium-sized companies that haveabove average growth histories and/or growth potential.
Return StandardDeviation
SharpeRatio Beta R-Squared Tracking
ErrorInformation
Ratio Consistency UpCapture
DownCapture
Highland Premier Growth Equity A (GEPCX) 18.99 9.50 1.88 1.02 0.88 3.26 0.28 52.78 103.10 96.84Russell 1000 Growth Index 17.99 8.75 1.94 1.00 1.00 0.00 - 0.00 100.00 100.0090 Day US Treasury Bill 0.05 0.02 - 0.00 0.04 8.76 -1.94 36.11 0.14 -0.31
Over Under Sep-2010 Jun-2015
-15.0
0.0
15.0
30.0
45.0
Hig
hlan
d Pr
emie
r G
row
th Eq
uity
A (G
EPCX
) (%
-15.0 0.0 15.0 30.0 45.0
Russell 1000 Growth Index (%)
OverPerformance
UnderPerformance
Highland Premier Growth Equity A (GEPCX)
Russell 1000 Growth Index
0
25
50
75
100
Retu
rn Pe
rcen
tile
Rank
9/10 6/11 3/12 12/12 9/13 6/14 6/15
Highland Premier Growth Equity A (GEPCX)
0
25
50
75
100Tr
acki
ng Er
ror
Perc
entil
e Ra
nk9/10 6/11 3/12 12/12 9/13 6/14 6/15
Highland Premier Growth Equity A (GEPCX) June 30, 2015
* 5 Year look back, if 5 years is not available, a since inception time period is used.2.13
Mutual Fund Details Relative Performance *
Individual Portfolio Statistics - 3 Years
Style Analysis - 3 Years
3 Year Rolling Under/Over Performance * 3 Year Rolling Percentile Ranking (Return) *
Fund Objective
3 Year Rolling Percentile Ranking (Tracking Error) *
Cumulative Annualized Relative Performance Over/Under Performance
0.00
2.00
4.00
-2.00
-4.00
-6.00Re
turn
(%)
7/10 1/11 7/11 1/12 7/12 1/13 7/13 1/14 7/14 1/15 6/15
Style History Jun-2015 Avg. Exposure
Capi
taliz
atio
n
Manager Style
Large Cap Growth
Small Cap GrowthSmall Cap Value
Large Cap Value
Product Name : Victory:MC Core Gr;Y (MGOYX)Fund Family : Victory Capital Management IncTicker : MGOYXPeer Group : IM U.S. Mid Cap Core Equity (MF)Benchmark : S&P MidCap 400Fund Inception : 06/24/1998Portfolio Manager : Tony Y. DongTotal Assets : $4,028 MillionTotal Assets Date : 06/30/2015Gross Expense : 1.13%Net Expense : 1.13%Turnover : 37%
The Fund seeks to provide long-term capital appreciation. TheFund pursues its goal by investing, under normalcircumstances, at least 80% of its assets in the equity securities(i.e., common stock, preferred stock, convertible securities andrights and warrants) of mid-capitalization companies.
Return StandardDeviation
SharpeRatio Beta R-Squared Tracking
ErrorInformation
Ratio Consistency UpCapture
DownCapture
Munder Mid-Cap Core Growth Y (MGOYX) 18.26 9.56 1.81 0.91 0.92 2.83 -0.12 36.11 95.38 89.17S&P MidCap 400 18.60 10.11 1.74 1.00 1.00 0.00 - 0.00 100.00 100.0090 Day US Treasury Bill 0.05 0.02 - 0.00 0.01 10.11 -1.74 30.56 0.13 -0.27
Under Sep-2010 Jun-2015
-15.0
0.0
15.0
30.0
45.0
Mun
der
Mid
-Cap
Core
Gro
wth
Y (M
GO
YX)
(%
-15.0 0.0 15.0 30.0 45.0
S&P MidCap 400 (%)
OverPerformance
UnderPerformance
Munder Mid-Cap Core Growth Y (MGOYX)
S&P MidCap 400
0
25
50
75
100
Retu
rn Pe
rcen
tile
Rank
9/10 6/11 3/12 12/12 9/13 6/14 6/15
Munder Mid-Cap Core Growth Y (MGOYX)
0
25
50
75
100Tr
acki
ng Er
ror
Perc
entil
e Ra
nk9/10 6/11 3/12 12/12 9/13 6/14 6/15
Munder Mid-Cap Core Growth Y (MGOYX) June 30, 2015
* 5 Year look back, if 5 years is not available, a since inception time period is used.2.14
Mutual Fund Details Relative Performance *
Individual Portfolio Statistics - 3 Years
Style Analysis - 3 Years
3 Year Rolling Under/Over Performance * 3 Year Rolling Percentile Ranking (Return) *
Fund Objective
3 Year Rolling Percentile Ranking (Tracking Error) *
Cumulative Annualized Relative Performance Over/Under Performance
0.00
3.00
6.00
-3.00
-6.00
-9.00Re
turn
(%)
7/10 1/11 7/11 1/12 7/12 1/13 7/13 1/14 7/14 1/15 6/15
Style History Jun-2015 Avg. Exposure
Capi
taliz
atio
n
Manager Style
Large Cap Growth
Small Cap GrowthSmall Cap Value
Large Cap Value
Product Name : Baron Small Cap Fund;Rtl (BSCFX)Fund Family : Baron FundsTicker : BSCFXPeer Group : IM U.S. Small Cap Growth Equity (MF)Benchmark : Russell 2000 Growth IndexFund Inception : 09/30/1997Portfolio Manager : Cliff GreenbergTotal Assets : $3,145 MillionTotal Assets Date : 05/31/2015Gross Expense : 1.30%Net Expense : 1.30%Turnover : 16%
The Fund seeks capital appreciation through investmentsprimarily in securities of small companies. The Fund At least80% of the Fund's total assets are invested in the securities ofsmaller companies based on the market size of the investmentat the time of purchase.
Return StandardDeviation
SharpeRatio Beta R-Squared Tracking
ErrorInformation
Ratio Consistency UpCapture
DownCapture
Baron Small Cap Retail (BSCFX) 16.47 10.94 1.45 0.78 0.86 4.95 -0.68 47.22 82.68 82.93Russell 2000 Growth Index 20.11 13.01 1.48 1.00 1.00 0.00 - 0.00 100.00 100.0090 Day US Treasury Bill 0.05 0.02 - 0.00 0.03 13.01 -1.48 33.33 0.09 -0.22
Over Under Sep-2010 Jun-2015
-15.0
0.0
15.0
30.0
45.0
Baro
n Sm
all
Ca
p Re
tail
(BSC
FX)
(%)
-15.0 0.0 15.0 30.0 45.0
Russell 2000 Growth Index (%)
OverPerformance
UnderPerformance
Baron Small Cap Retail (BSCFX) Russell 2000 Growth Index
0
25
50
75
100
Retu
rn Pe
rcen
tile
Rank
9/10 6/11 3/12 12/12 9/13 6/14 6/15
Baron Small Cap Retail (BSCFX)
0
25
50
75
100Tr
acki
ng Er
ror
Perc
entil
e Ra
nk9/10 6/11 3/12 12/12 9/13 6/14 6/15
Baron Small Cap Retail (BSCFX) June 30, 2015
* 5 Year look back, if 5 years is not available, a since inception time period is used.2.15
Mutual Fund Details Relative Performance *
Individual Portfolio Statistics - 3 Years
Style Analysis - 3 Years
3 Year Rolling Under/Over Performance * 3 Yr Rolling Percentile Ranking (Return) *
Fund Objective
3 Year Rolling Percentile Ranking (Tracking Error) *
Cumulative Annualized Relative Performance Over/Under Performance
0.00
2.00
4.00
6.00
-2.00
-4.00Re
turn
(%)
7/10 1/11 7/11 1/12 7/12 1/13 7/13 1/14 7/14 1/15 6/15
Style History Jun-2015 Avg. Exposure
Capi
taliz
atio
n
Manager Style
MSCI EAFE Growth Index
MSCI EAFE Small Cap GrowthMSCI EAFE Small Cap Value
MSCI EAFE Value Index
Product Name : American Funds EuPc;R-5 (RERFX)Fund Family : American FundsTicker : RERFXPeer Group : IM International Large Cap Equity (MF)Benchmark : MSCI AC World ex USA (Net)Fund Inception : 05/15/2002Portfolio Manager : Team ManagedTotal Assets : $11,229 MillionTotal Assets Date : 06/30/2015Gross Expense : 0.53%Net Expense : 0.53%Turnover : 28%
The Fund seeks to provide long-term growth of capital byinvesting in companies based outside the United States. TheFund Invests in companies based chiefly in Europe and thePacific Basin, ranging from small firms to large corporations.
Return StandardDeviation
SharpeRatio Beta R-Squared Tracking
ErrorInformation
Ratio Consistency UpCapture
DownCapture
Amer Funds EuroPacific Growth R5 (RERFX) 12.65 9.08 1.36 0.84 0.89 3.45 0.81 50.00 97.16 66.52MSCI AC World ex USA (Net) 9.44 10.21 0.93 1.00 1.00 0.00 - 0.00 100.00 100.0090 Day US Treasury Bill 0.05 0.02 - 0.00 0.00 10.21 -0.93 36.11 0.20 -0.15
Over Under Sep-2010 Jun-2015
-20.0
-10.0
0.0
10.0
20.0
30.0
mer
Fund
s Eu
roPa
cific
Gro
wth
R5 (R
ERFX
) (%
-20.0 -10.0 0.0 10.0 20.0 30.0
MSCI AC World ex USA (Net) (%)
OverPerformance
UnderPerformance
Amer Funds EuroPacific Growth R5 (RERFX)
MSCI AC World ex USA (Net)
0
25
50
75
100
Retu
rn Pe
rcen
tile
Rank
9/10 6/11 3/12 12/12 9/13 6/14 6/15
Amer Funds EuroPacific Growth R5 (RERFX)
0
25
50
75
100Tr
acki
ng Er
ror
Perc
entil
e Ra
nk9/10 6/11 3/12 12/12 9/13 6/14 6/15
Amer Funds EuroPacific Growth R5 (RERFX) June 30, 2015
* 5 Year look back, if 5 years is not available, a since inception time period is used.2.16
Mutual Fund Details Relative Performance *
Individual Portfolio Statistics - 3 Years
Asset Allocation
3 Year Rolling Under/Over Performance * 3 Year Rolling Percentile Ranking (Return) *
Fund Objective
3 Year Rolling Percentile Ranking (Tracking Error) *
Cumulative Annualized Relative Performance Over/Under Performance
0.00
3.00
6.00
-3.00
-6.00
-9.00Re
turn
(%)
7/10 1/11 7/11 1/12 7/12 1/13 7/13 1/14 7/14 1/15 6/15
Product Name : Oakmark Eqty & Inc;I (OAKBX)Fund Family : Oakmark Family of FundsTicker : OAKBXPeer Group : IM Mixed-Asset Target Alloc Moderate
(MF)Benchmark : 60% S&P 500 / 40% Barclays AggregateFund Inception : 11/01/1995Portfolio Manager : Team ManagedTotal Assets : $19,253 MillionTotal Assets Date : 06/30/2015Gross Expense : 0.74%Net Expense : 0.74%Turnover : 18%
0.00% 25.00% 50.00% 75.00% 100.00%
Other
Convertibles
Cash
Fixed Income
Equities
0.00%
0.00%
4.17%
32.26%
63.57%
The Fund seeks high current income, preservation and growthof capital by investing in a diversified portfolio of equity andfixed-income securities.
Return StandardDeviation
SharpeRatio Beta R-Squared Tracking
ErrorInformation
Ratio Consistency UpCapture
DownCapture
Oakmark Equity and Income I (OAKBX) 11.99 6.92 1.67 1.20 0.79 3.30 0.31 63.89 114.80 129.1660% S&P 500 / 40% Barclays Aggregate 10.98 5.15 2.04 1.00 1.00 0.00 - 0.00 100.00 100.0090 Day US Treasury Bill 0.05 0.02 - 0.00 0.04 5.16 -2.04 27.78 0.27 -0.38
Over Under Sep-2010 Jun-2015
-8.0
0.0
8.0
16.0
24.0
Oak
mar
k Eq
uity
and
Inco
me
I
(OAK
BX)
(%)
-8.0 0.0 8.0 16.0 24.0
60% S&P 500 / 40% Barclays Aggregate (%)
OverPerformance
UnderPerformance
Oakmark Equity and Income I (OAKBX) 60% S&P 500 / 40% Barclays Aggregate
0
25
50
75
100
Retu
rn Pe
rcen
tile
Rank
9/10 6/11 3/12 12/12 9/13 6/14 6/15
Oakmark Equity and Income I (OAKBX)
0
25
50
75
100Tr
acki
ng Er
ror
Perc
entil
e Ra
nk9/10 6/11 3/12 12/12 9/13 6/14 6/15
Oakmark Equity and Income I (OAKBX) June 30, 2015
* 5 Year look back, if 5 years is not available, a since inception time period is used.2.17
Product Details Relative Performance *
Individual Portfolio Statistics - 3 Years
3 Year Rolling Under/Over Performance * 3 Year Rolling Percentile Ranking (Return) *
Product Objective
3 Year Rolling Percentile Ranking (Tracking Error) *
Cumulative Annualized Relative Performance Over/Under Performance
0.00
0.40
0.80
-0.40
-0.80
-1.20Re
turn
(%)
7/10 10/10 1/11 4/11 7/11 10/11 1/12 4/12 7/12 10/12 1/13 4/13 7/13 10/13 1/14 4/14 7/14 10/14 1/15 4/15 6/15The fund normally invests at least 80% of total assets inequity, fixed income and money market securities designedto approximate the holdings and weightings of thesecurities in the appropriate Dow Jones Target Date index.
Return StandardDeviation
SharpeRatio Beta R-Squared Tracking
ErrorInformation
Ratio Consistency UpCapture
DownCapture
SSgA Target 2045 Class C 13.09 7.68 1.64 1.00 1.00 0.41 -1.20 16.67 98.01 101.93Dow Jones Global Target 2045 Index 13.64 7.67 1.71 1.00 1.00 0.00 - 0.00 100.00 100.0090 Day US Treasury Bill 0.05 0.02 - 0.00 0.01 7.67 -1.71 30.56 0.19 -0.29
Under Sep-2010 Jun-2015
-10.0
0.0
10.0
20.0
30.0
SSgA
Targ
et 20
45 Cl
ass
C (%
)
-10.0 0.0 10.0 20.0 30.0
Dow Jones Global Target 2045 Index (%)
OverPerformance
UnderPerformance
SSgA Target 2045 Class C Dow Jones Global Target 2045 Index
0
25
50
75
100
Retu
rn Pe
rcen
tile
Rank
9/10 6/11 3/12 12/12 9/13 6/14 6/15
SSgA Target 2045 Class C
0
25
50
75
100Tr
acki
ng Er
ror
Perc
entil
e Ra
nk9/10 6/11 3/12 12/12 9/13 6/14 6/15
SSgA Target 2045 Class C June 30, 2015
* 5 Year look back, if 5 years is not available, a since inception time period is used.2.18
Total Expense 0.45%
Product Name SSgA Dow Jones Target 2045
Peer Group Mixed-Asset Target 2045 Funds
Benchmark Dow Jones Global Target 2045
Index Inception 08/01/2005
Product Details Relative Performance *
Individual Portfolio Statistics - 3 Years
3 Year Rolling Under/Over Performance * 3 Year Rolling Percentile Ranking (Return) *
Product Objective
3 Year Rolling Percentile Ranking (Tracking Error) *
Cumulative Annualized Relative Performance Over/Under Performance
0.00
0.40
0.80
-0.40
-0.80
-1.20Re
turn
(%)
7/10 10/10 1/11 4/11 7/11 10/11 1/12 4/12 7/12 10/12 1/13 4/13 7/13 10/13 1/14 4/14 7/14 10/14 1/15 4/15 6/15The fund normally invests at least 80% of total assets inequity, fixed income and money market securities designedto approximate the holdings and weightings of thesecurities in the appropriate Dow Jones Target Date index.
Return StandardDeviation
SharpeRatio Beta R-Squared Tracking
ErrorInformation
Ratio Consistency UpCapture
DownCapture
SSgA Target 2035 Class C 11.26 6.70 1.63 1.00 1.00 0.36 -1.31 13.89 97.67 101.76Dow Jones Global Target 2035 Index 11.78 6.69 1.70 1.00 1.00 0.00 - 0.00 100.00 100.0090 Day US Treasury Bill 0.05 0.02 - 0.00 0.01 6.69 -1.70 27.78 0.24 -0.29
Under Sep-2010 Jun-2015
-10.0
0.0
10.0
20.0
30.0
SSgA
Targ
et 20
35 Cl
ass
C (%
)
-10.0 0.0 10.0 20.0 30.0
Dow Jones Global Target 2035 Index (%)
OverPerformance
UnderPerformance
SSgA Target 2035 Class C Dow Jones Global Target 2035 Index
0
25
50
75
100
Retu
rn Pe
rcen
tile
Rank
9/10 6/11 3/12 12/12 9/13 6/14 6/15
SSgA Target 2035 Class C
0
25
50
75
100Tr
acki
ng Er
ror
Perc
entil
e Ra
nk9/10 6/11 3/12 12/12 9/13 6/14 6/15
SSgA Target 2035 Class C June 30, 2015
* 5 Year look back, if 5 years is not available, a since inception time period is used.2.19
Total Expense 0.45%
Product Name SSgA Dow Jones Target 2035
Peer Group Mixed-Asset Target 2035 Funds
Benchmark Dow Jones Global Target 2035
Index Inception 08/01/2005
Product Details Relative Performance *
Individual Portfolio Statistics - 3 Years
3 Year Rolling Under/Over Performance * 3 Year Rolling Percentile Ranking (Return) *
Product Objective
3 Year Rolling Percentile Ranking (Tracking Error) *
Cumulative Annualized Relative Performance Over/Under Performance
0.00
0.40
0.80
-0.40
-0.80
-1.20Re
turn
(%)
7/10 10/10 1/11 4/11 7/11 10/11 1/12 4/12 7/12 10/12 1/13 4/13 7/13 10/13 1/14 4/14 7/14 10/14 1/15 4/15 6/15The fund normally invests at least 80% of total assets inequity, fixed income and money market securities designedto approximate the holdings and weightings of thesecurities in the appropriate Dow Jones Target Date index.
Return StandardDeviation
SharpeRatio Beta R-Squared Tracking
ErrorInformation
Ratio Consistency UpCapture
DownCapture
SSgA Target 2025 Class C 7.76 5.00 1.51 1.00 1.00 0.26 -1.89 11.11 97.56 104.87Dow Jones Global Target 2025 Index 8.28 5.00 1.61 1.00 1.00 0.00 - 0.00 100.00 100.0090 Day US Treasury Bill 0.05 0.02 - 0.00 0.00 5.00 -1.61 30.56 0.33 -0.37
Under Sep-2010 Jun-2015
-8.0
0.0
8.0
16.0
24.0
SSgA
Targ
et 20
25 Cl
ass
C (%
)
-8.0 0.0 8.0 16.0 24.0
Dow Jones Global Target 2025 Index (%)
OverPerformance
UnderPerformance
SSgA Target 2025 Class C Dow Jones Global Target 2025 Index
0
25
50
75
100
Retu
rn Pe
rcen
tile
Rank
9/10 6/11 3/12 12/12 9/13 6/14 6/15
SSgA Target 2025 Class C
0
25
50
75
100Tr
acki
ng Er
ror
Perc
entil
e Ra
nk9/10 6/11 3/12 12/12 9/13 6/14 6/15
SSgA Target 2025 Class C June 30, 2015
* 5 Year look back, if 5 years is not available, a since inception time period is used.2.20
Total Expense 0.45%
Product Name SSgA Dow Jones Target 2025
Peer Group Mixed-Asset Target 2025 Funds
Benchmark Dow Jones Global Target 2025
Index Inception 08/01/2005
Product Details Relative Performance *
Individual Portfolio Statistics - 3 Years
3 Year Rolling Under/Over Performance * 3 Year Rolling Percentile Ranking (Return) *
Product Objective
3 Year Rolling Percentile Ranking (Tracking Error) *
Cumulative Annualized Relative Performance Over/Under Performance
0.00
0.30
0.60
-0.30
-0.60
-0.90
-1.20Re
turn
(%)
7/10 10/10 1/11 4/11 7/11 10/11 1/12 4/12 7/12 10/12 1/13 4/13 7/13 10/13 1/14 4/14 7/14 10/14 1/15 4/15 6/15The fund normally invests at least 80% of total assets inequity, fixed income and money market securities designedto approximate the holdings and weightings of thesecurities in the appropriate Dow Jones Target Date index.
Return StandardDeviation
SharpeRatio Beta R-Squared Tracking
ErrorInformation
Ratio Consistency UpCapture
DownCapture
SSgA Target 2015 Class C 4.16 3.53 1.16 1.00 1.00 0.16 -2.99 11.11 96.24 105.69Dow Jones Global Target 2015 Index 4.65 3.53 1.29 1.00 1.00 0.00 - 0.00 100.00 100.0090 Day US Treasury Bill 0.05 0.02 - 0.00 0.00 3.53 -1.29 33.33 0.55 -0.36
Under Sep-2010 Jun-2015
-5.0
0.0
5.0
10.0
15.0
20.0
SSgA
Targ
et 20
15 Cl
ass
C (%
)
-5.0 0.0 5.0 10.0 15.0 20.0
Dow Jones Global Target 2015 Index (%)
OverPerformance
UnderPerformance
SSgA Target 2015 Class C Dow Jones Global Target 2015 Index
0
25
50
75
100
Retu
rn Pe
rcen
tile
Rank
9/10 6/11 3/12 12/12 9/13 6/14 6/15
SSgA Target 2015 Class C
0
25
50
75
100Tr
acki
ng Er
ror
Perc
entil
e Ra
nk9/10 6/11 3/12 12/12 9/13 6/14 6/15
SSgA Target 2015 Class C June 30, 2015
* 5 Year look back, if 5 years is not available, a since inception time period is used.2.21
Total Expense 0.45%
Product Name SSgA Dow Jones Target 2015
Peer Group Mixed-Asset Target 2015 Funds
Benchmark Dow Jones Global Target 2015
Index Inception 08/01/2005
Product Details Relative Performance *
Individual Portfolio Statistics - 3 Years
3 Year Rolling Under/Over Performance * 3 Year Rolling Percentile Ranking (Return) *
Product Objective
3 Year Rolling Percentile Ranking (Tracking Error) *
Cumulative Annualized Relative Performance Over/Under Performance
0.00
0.30
0.60
-0.30
-0.60
-0.90Re
turn
(%)
7/10 10/10 1/11 4/11 7/11 10/11 1/12 4/12 7/12 10/12 1/13 4/13 7/13 10/13 1/14 4/14 7/14 10/14 1/15 4/15 6/15The fund normally invests at least 80% of total assets inequity, fixed income and money market securities designedto approximate the holdings and weightings of thesecurities in the appropriate Dow Jones Target Date index.
Return StandardDeviation
SharpeRatio Beta R-Squared Tracking
ErrorInformation
Ratio Consistency UpCapture
DownCapture
SSgA Target Today Class C 2.15 2.92 0.73 1.00 1.00 0.09 -5.18 2.78 95.07 106.94Dow Jones Target Today Index 2.63 2.91 0.89 1.00 1.00 0.00 - 0.00 100.00 100.0090 Day US Treasury Bill 0.05 0.02 - 0.00 0.00 2.91 -0.89 38.89 0.75 -0.45
Under Sep-2010 Jun-2015
0.0
5.0
10.0
15.0
SSgA
Targ
et To
day
Clas
s C
(%)
0.0 5.0 10.0 15.0
Dow Jones Target Today Index (%)
OverPerformance
UnderPerformance
SSgA Target Today Class C Dow Jones Target Today Index
0
25
50
75
100
Retu
rn Pe
rcen
tile
Rank
9/10 6/11 3/12 12/12 9/13 6/14 6/15
SSgA Target Today Class C
0
25
50
75
100Tr
acki
ng Er
ror
Perc
entil
e Ra
nk9/10 6/11 3/12 12/12 9/13 6/14 6/15
SSgA Target Today Class C June 30, 2015
* 5 Year look back, if 5 years is not available, a since inception time period is used.2.22
Product Name SSgA Dow Jones Target Today
Peer Group Mixed-Asset Target Today Funds
Benchmark Dow Jones Global Target Today
Index Inception 08/01/2005
Total Expense 0.45%
Mutual Fund Details Relative Performance *
Individual Portfolio Statistics - 3 Years
Style Analysis - 3 Years
3 Year Rolling Under/Over Performance * 3 Year Rolling Percentile Ranking (Return) *
Fund Objective
3 Year Rolling Percentile Ranking (Tracking Error) *
Cumulative Annualized Relative Performance Over/Under Performance
0.00
0.99
1.98
2.97
-0.99
-1.98
-2.97Re
turn
(%)
7/10 1/11 7/11 1/12 7/12 1/13 7/13 1/14 7/14 1/15 6/15
Style History Jun-2015 Avg. Exposure
Capi
taliz
atio
n
Manager Style
Large Cap Growth
Small Cap GrowthSmall Cap Value
Large Cap Value
Product Name : Deutsche RE Sec;A (RRRAX)Fund Family : Deutsche Asset & Wealth ManagementTicker : RRRAXPeer Group : IM Real Estate Sector (MF)Benchmark : MSCI US REIT IndexFund Inception : 09/03/2002Portfolio Manager : Team MangedTotal Assets : $359 MillionTotal Assets Date : 06/30/2015Gross Expense : 0.96%Net Expense : 0.96%Turnover : 134%
The Fund seeks long term capital appreciation and currentincome by investing, under normal market conditions, at least80% of its net assets in equity securities of real estateinvestment trusts ("REITs") and real estate companies.
Return StandardDeviation
SharpeRatio Beta R-Squared Tracking
ErrorInformation
Ratio Consistency UpCapture
DownCapture
DWS RREEF Real Estate Securities A (RRRAX) 7.43 13.58 0.59 1.01 0.99 1.03 -1.15 47.22 96.35 102.21MSCI US REIT Index 8.72 13.47 0.69 1.00 1.00 0.00 - 0.00 100.00 100.0090 Day US Treasury Bill 0.05 0.02 - 0.00 0.01 13.47 -0.69 36.11 0.13 -0.15
Over Under Sep-2010 Jun-2015
-20.0
0.0
20.0
40.0
60.0
WS
RREE
F Re
al Es
tate
Secu
ritie
s A
(RRR
AX)
(%
-20.0 0.0 20.0 40.0 60.0
MSCI US REIT Index (%)
OverPerformance
UnderPerformance
DWS RREEF Real Estate Securities A (RRRAX)
MSCI US REIT Index
0
25
50
75
100
Retu
rn Pe
rcen
tile
Rank
9/10 6/11 3/12 12/12 9/13 6/14 6/15
DWS RREEF Real Estate Securities A (RRRAX)
0
25
50
75
100Tr
acki
ng Er
ror
Perc
entil
e Ra
nk9/10 6/11 3/12 12/12 9/13 6/14 6/15
DWS RREEF Real Estate Securities A (RRRAX) June 30, 2015
* 5 Year look back, if 5 years is not available, a since inception time period is used.2.23
Mutual Fund Details Relative Performance *
Individual Portfolio Statistics - 3 Years
Style Analysis - 3 Years
3 Year Rolling Under/Over Performance * 3 Year Rolling Percentile Ranking (Return) *
Fund Objective
3 Year Rolling Percentile Ranking (Tracking Error) *
Cumulative Annualized Relative Performance Over/Under Performance
0.00
2.00
4.00
-2.00
-4.00
-6.00Re
turn
(%)
7/10 1/11 7/11 1/12 7/12 1/13 7/13 1/14 7/14 1/15 6/15
Style History Jun-2015 Avg. Exposure
Qua
lity
Duration
Long Treasury
Long CreditIntermediate Credit
Intermediate Treasury
Product Name : PIMCO:Tot Rtn;A (PTTAX)Fund Family : PIMCOTicker : PTTAXPeer Group : IM U.S. Broad Market Core+ Fixed
Income (MF)Benchmark : Barclays AggregateFund Inception : 01/13/1997Portfolio Manager : Mather/Kiesel/WorahTotal Assets : $10,955 MillionTotal Assets Date : 05/31/2015Gross Expense : 0.85%Net Expense : 0.85%Turnover : 265%
The Fund seeks maximum total return, consistent withpreservation of capital and prudent investment management.The Fund seeks to achieve its investment objective by investingin a diversified portfolio of fixed income instruments. Theaverage portfolio duration normally varies within a three-to-sixyear time frame.
Return StandardDeviation
SharpeRatio Beta R-Squared Tracking
ErrorInformation
Ratio Consistency UpCapture
DownCapture
PIMCO Total Return A (PTTAX) 2.05 3.68 0.56 1.19 0.89 1.36 0.18 55.56 121.85 126.93Barclays Aggregate 1.83 2.91 0.62 1.00 1.00 0.00 - 0.00 100.00 100.0090 Day US Treasury Bill 0.05 0.02 - 0.00 0.01 2.91 -0.62 38.89 0.73 -0.55
Over Under Sep-2010 Jun-2015
0.0
5.0
10.0
15.0
PIM
CO To
tal
Re
turn
A (P
TTAX
) (%
)
0.0 5.0 10.0 15.0
Barclays Aggregate (%)
OverPerformance
UnderPerformance
PIMCO Total Return A (PTTAX) Barclays Aggregate
0
25
50
75
100
Retu
rn Pe
rcen
tile
Rank
9/10 6/11 3/12 12/12 9/13 6/14 6/15
PIMCO Total Return A (PTTAX)
0
25
50
75
100Tr
acki
ng Er
ror
Perc
entil
e Ra
nk9/10 6/11 3/12 12/12 9/13 6/14 6/15
PIMCO Total Return A (PTTAX) June 30, 2015
* 5 year look back, if 5 years is not available, a since inception time period is used.2.24
Mutual Fund Details Relative Performance *
Individual Portfolio Statistics - 3 Years
Style Analysis - 3 Years
3 Year Rolling Under/Over Performance * 3 Year Rolling Percentile Ranking (Return) *
Fund Objective
3 Year Rolling Percentile Ranking (Tracking Error) *
Cumulative Annualized Relative Performance Over/Under Performance
0.00
0.74
1.48
2.22
-0.74
-1.48
-2.22Re
turn
(%)
7/10 1/11 7/11 1/12 7/12 1/13 7/13 1/14 7/14 1/15 6/15
Style History Jun-2015 Avg. Exposure
Qua
lity
Duration
Long Treasury
Long CreditIntermediate Credit
Intermediate Treasury
The Fund seeks to maximize real return consistent withpreservation of real capital and prudent investmentmanagement. The Fund is an actively managed bond portfoliothat invests primarily in inflation indexed securities.
Return StandardDeviation
SharpeRatio Beta R-Squared Tracking
ErrorInformation
Ratio Consistency UpCapture
DownCapture
PIMCO Real Return Admin (PARRX) -1.15 5.94 -0.17 1.14 0.98 1.14 -0.31 63.89 112.94 116.71Barclays US Treasury: US TIPS -0.76 5.15 -0.13 1.00 1.00 0.00 - 0.00 100.00 100.0090 Day US Treasury Bill 0.05 0.02 - 0.00 0.04 5.15 0.13 41.67 0.57 -0.24
Over Under Sep-2010 Jun-2015
-5.0
0.0
5.0
10.0
15.0
PIM
CO Re
al Re
turn
Adm
in (P
ARRX
) (%
)
-5.0 0.0 5.0 10.0 15.0
Barclays US Treasury: US TIPS (%)
OverPerformance
UnderPerformance
PIMCO Real Return Admin (PARRX) Barclays US Treasury: US TIPS
0
25
50
75
100
Retu
rn Pe
rcen
tile
Rank
9/10 6/11 3/12 12/12 9/13 6/14 6/15
PIMCO Real Return Admin (PARRX)
0
25
50
75
100Tr
acki
ng Er
ror
Perc
entil
e Ra
nk9/10 6/11 3/12 12/12 9/13 6/14 6/15
PIMCO Real Return Admin (PARRX) June 30, 2015
* 5 year look back, if 5 years is not available, a since inception time period is used.2.25
Product Name : PIMCO:Real Return;Admn (PARRX)Fund Family : PIMCOTicker : PARRXPeer Group : IM U.S. TIPS (MF)Benchmark : Barclays US Treasury: US TIPSFund Inception : 04/28/2000Portfolio Manager : Worah/BanetTotal Assets : $676 MillionTotal Assets Date : 05/31/2015Gross Expense : 0.70%Net Expense : 0.70%Turnover : 117%
Rolling Relative Performance Comparative Performance
Credit Quality Distribution (%) Sector Distribution (%) Portfolio Attributes
Rolling 1 Year Cumulative Over/Under Relative Performance
Over/Under Relative Performance
0.0
1.0
2.0
3.0
4.0
-1.0
Retu
rn (%
)
9/10 3/11 9/11 3/12 9/12 3/13 9/13 3/14 9/14 6/15
General Fixed Interest Account (3.00%) 90 Day US Treasury Bill
0.0
0.8
1.6
2.4
3.2
4.0
Retu
rn
3 Month CYTD 1 Year 3 Year 5 Year
0.0 0.0 0.0 0.1 0.1
0.7
1.5
3.0 3.0 3.1
0.0
15.0
30.0
45.0
60.0
US Go vt
Aa a, Aa,
A
Ba a B a B
Caa o r
l ow er
In or
ne ar defa ul t
13.4
43.6
34.9
4.1 2.50.9 0.6
Avg. Quality Aa2/AA+Current Yield 3.00
0.0
20.0
40.0
60.0
80.0
100.0
T reasur y
In v G rade
M B SAB S
CM B S
M un ic ipalC ash
Fund Assets ($Mil) 137,000
General Fixed Interest Account (3.00%) June 30, 2015
*Due to a lag in reporting for the MassMutual/Hartford Fixed Interest Account, portfolio details reflect previous quarter-end information.
2.26
Historical Asset Allocation and Growth of AssetsAs of June 30, 2015
Historical Allocation Total Market Value of Assetsby Asset Class $171,154,967
South Carolina State ORP (MetLife)
$171.2
$0
$25
$50
$75
$100
$125
$150
$175
Dec-
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Dec-
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Sep-
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c-14
Mar
-15
Jun-
15
$Mill
ions
0%
10%
20%
30%
40%
50%
60%
70%
80%
90%
100%
Dec-
09M
ar-1
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Sep-
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Mar
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Jun-
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-13
Jun-
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Mar
-15
Jun-
15
Domestic Equity International Equity Sector
Balanced Target-Date Fixed Income
Money Market/GIC
3.1
8%
2%
11%
4% 3%
11%
7% 6%
8%
3% 2%
1% 1% 1% 0%
9%
3% 5%
1%
14%
0%
5%
10%
15%
20%
25%SS
gA S
&P
500
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Sha
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PIM
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Ret
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Adm
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SSgA
Mon
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Met
life
Gold
Tra
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elec
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MetLife Dollar-Weighted Asset Allocation
3.2
18%
9%
24%
13% 15%
27% 25%
14% 17%
4% 4% 3% 2% 2% 1%
30%
15% 18%
4%
26%
0%
10%
20%
30%
40%
50%SS
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500
Inde
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MetLife Participant-Weighted Asset Allocation
3.3
FundExcess
Performance1Peer Universe
Rank2Information Ratio Rank3
Sharpe Ratio Rank4 Other Status Change
US Equity: Large CapSSgA S&P 500 Index N (SVSPX) (P) - - - - Pass Good 0JPMorgan Disciplined Equity A (JDEAX) Pass Pass Pass Pass - Good 0Amer Funds Fundamental Investors A (ANCFX) Fail Pass Pass Pass - Good 4Franklin Dyna Tech A (FKDNX) Pass Pass Pass Fail - Good 1
US Equity: Non-Large CapColumbia Mid Cap Index A (NTIAX) (P) - - - - Pass Good 0Delaware Small Cap Core I (DCCIX) Pass Pass Pass Pass - Good 0
International EquityAmer Funds EuroPacific Growth A (AEPGX) Pass Pass Pass Pass - Good 1
Balanced FundsInvesco Equity and Income A (ACEIX) Pass Pass Pass Pass - Good 0AllianceBern Retirement Strat Target-Date Suite - - - - Pass Good 0
Sector FundCohen & Steers Realty Shares (CSRSX) Pass Pass Pass Pass - Good 5
Fixed IncomePIMCO Total Return Admin (PTRAX) Pass Fail Fail Fail - Watch List 2
Money Market/Stable ValueSSgA Money Market N (SSMXX) - - - - - -Metlife Gold Track Select - - - - Pass Good 0
Source: Lipper
Methodology
(P) Passive Funds
Other:
For Passive funds, Other is defined as tracking error commensurate with the asset class (domestic equity & fixed income less than or equal to .50%, International equity less than or equal to 2.00%).
For Insurance or Stable Value products, Other is defined as insurer's credit quality and competitiveness of rate of return.
For Target-Date funds, Other is defined as two out of the three one, three, and five-year peer ranks place the entire suite of funds in the top half of its applicable peer universe.
Active Funds1Fund performance exceeds the return of the independent benchmark for at least two of the most recent one, three, and five-year trailing periods. 2Fund performance places it in the top half of its applicable peer universe for at least two of the most recent one, three, and five-year trailing periods. 3Information ratio places the fund in the top half of its applicable peer universe for at least two of the most recent one, three, and five-year trailing periods. 4Sharpe ratio places the fund in the top half of its applicable peer universe for at least two of the most recent one, three, and five-year trailing periods. 5Number represents the number of quarters (consecutive or non-consecutive) the fund has been on the watch list over the previous trailing 12 quarters.
South Carolina State ORP (MetLife)Fund MonitorAs of June 30, 2015
Primary Benchmarks Secondary Benchmarks # of Quarters on Watch List for Trailing
12 Quarters5
3.4
As of June 30, 2015
*Total Feereflects each fund's expense ratio plus a 15 bps administrative fee assessed by MetLife.1Higher number is better2Lower number is better
South Carolina State ORP (MetLife)
Total Return Total Return Percentile Rank2
1 Year 3 Year 5 Year5 Year Lipper Peer
Group5 Year Morningstar
Peer Group
5-Year Standard DeviationFund Ticker Total Fee*
5-Year Sharpe Ratio1
Domestic EquitySSgA S&P 500 Index N SVSPX 0.31% 1.32 12.73% 7.24% 17.09% 17.16% 24 23JPMorgan Disciplined Equity A JDEAX 1.00% 1.38 12.70% 9.04% 18.81% 17.99% 10 9Amer Funds Fundamental Investors A ANCFX 0.76% 1.19 13.36% 6.48% 17.12% 15.92% 33 53Franklin DynaTech A FKDNX 1.04% 1.19 15.22% 12.78% 18.30% 18.28% 29 26Columbia Mid Cap Index A NTIAX 0.60% 1.07 16.30% 5.92% 18.04% 17.30% 31 34Delaware Small Cap Core I DCCIX 1.22% 1.09 18.09% 7.20% 19.52% 19.46% 9 5International EquityAmer Funds EuroPacific Growth A AEPGX 0.98% 0.68 15.49% 0.63% 12.32% 9.74% 24 49Balanced Invesco Equity and Income A ACEIX 0.95% 1.23 10.14% 4.10% 13.45% 12.64% 2 6Target DateAllianceBernstein 2045 Adv LTPVX 0.91% 0.89 14.33% 2.69% 14.16% 12.35% 70 69AllianceBernstein 2040 Adv LTLVX 0.91% 0.90 13.98% 2.62% 13.98% 12.20% 46 44AllianceBernstein 2035 Adv LTKVX 0.91% 0.89 13.53% 1.99% 13.25% 11.75% 60 58AllianceBernstein 2030 Adv LTJVX 0.91% 0.90 12.70% 1.36% 12.35% 11.17% 43 41AllianceBernstein 2025 Adv LTIVX 0.89% 0.91 11.67% 0.69% 11.08% 10.38% 54 51AllianceBernstein 2020 Adv LTHVX 0.87% 0.92 10.58% 0.27% 9.95% 9.62% 34 33AllianceBernstein 2015 Adv LTEVX 0.83% 0.95 9.51% 0.04% 8.93% 8.99% 37 32AllianceBernstein 2010 Adv LTDVX 0.79% 0.97 8.40% 0.01% 7.69% 8.11% 42 40SpecialtyCohen & Steers Realty Shares CSRSX 1.12% 0.90 15.73% 5.32% 9.11% 13.77% 43 42Fixed IncomePIMCO Total Return Admin PTRAX 0.86% 1.00 0.04 1.04% 2.19% 3.77% 68 47Stable ValueSSgA Money Market N SSMXX 0.52% - - 0.00% 0.00% 0.01% 75 N/AMetlife Gold Track Select N/A - - - 3.00% 3.00% 3.00% - -
3.5
Fund Line-Up Statistics
Asset $ Asset %Total Fee* 3 Month CYTD 1 Year 3 Year 5 Year 10 Year
Domestic Equity: Large Cap FundsSSgA S&P 500 Index N (SVSPX) 13,640,639 7.97 31 0.24 46 1.13 50 7.24 31 17.09 40 17.16 24 7.75 31S&P 500 0.28 1.23 7.42 17.31 17.34 7.89Excess Return -0.04 -0.10 -0.18 -0.22 -0.18 -0.14IM U.S. Large Cap Core Equity (MF) - - - - - - - - - - - -
Amer Funds Fundamental Investors A (ANCFX) 19,289,803 11.27 76 1.32 15 2.94 5 6.48 10 17.12 41 15.92 33 8.84 3Russell 1000 Value Index 0.11 -0.61 4.13 17.34 16.50 7.05Excess Return 1.21 3.55 2.35 -0.22 -0.58 1.79IM U.S. Large Cap Value Equity (MF) - - - - - - - - - - - -
Franklin Dyna Tech A (FKDNX) 6,472,744 3.78 104 1.77 14 7.28 11 12.78 23 18.30 37 18.28 29 10.02 10Russell 1000 Growth Index 0.12 3.96 10.56 17.99 18.59 9.10Excess Return 1.65 3.32 2.22 0.31 -0.31 0.92IM U.S. Large Cap Growth Equity (MF) - - - - - - - - - - - -
Domestic Equity: Non-Large Cap FundsColumbia Mid Cap Index A (NTIAX) 5,945,432 3.47 60 -1.16 55 4.00 35 5.92 50 18.04 50 17.30 31 9.33 20S&P MidCap 400 -1.06 4.20 6.40 18.60 17.82 9.74Excess Return -0.10 -0.20 -0.48 -0.56 -0.52 -0.41IM U.S. Mid Cap Core Equity (MF) - - - - - - - - - - - -
Delaware Small Cap Core I (DCCIX) 18,124,009 10.59 122 0.14 36 3.26 55 7.20 14 19.52 11 19.46 9 8.85 15Russell 2000 Index 0.42 4.75 6.49 17.81 17.08 8.40Excess Return -0.28 -1.49 0.71 1.71 2.38 0.45IM U.S. Small Cap Core Equity (MF) - - - - - - - - - - - -
International Equity FundAmer Funds EuroPacific Growth A (AEPGX) 12,835,486 7.50 98 1.02 47 6.98 22 0.63 13 12.32 15 9.74 24 7.35 15MSCI AC World ex USA (Net) 0.53 4.03 -5.26 9.44 7.76 5.54Excess Return 0.49 2.95 5.89 2.88 1.98 1.81IM International Large Cap Equity (MF) - - - - - - - - - - - -
Balanced FundInvesco Equity and Income A (ACEIX) 11,093,209 6.48 95 1.27 1 1.28 48 4.10 9 13.45 1 12.64 2 7.04 560% Russell 1000 Value / 40% Barclays Aggregate -0.61 -0.32 3.33 11.01 11.30 6.32Excess Return 1.88 1.60 0.77 2.44 1.34 0.72IM Mixed-Asset Target Alloc Moderate (MF) - - - - - - - - - - - -
South Carolina State ORP (MetLife)Performance Scorecard (net of fees)June 30, 2015
Performance(%) and Percentile Rank
*The Total Fee reflects each fund's expense ratio plus a 15 bps administrative fee assessed by MetLife.
JPMorgan Disciplined Equity A (JDEAX) 3,170,583 1.85 100 0.80 24 2.25 23 9.04 10 18.81 11 17.99 10 8.26 18S&P 500 0.28 1.23 7.42 17.31 17.34 7.89Excess Return 0.52 1.02 1.62 1.50 0.65 0.37IM U.S. Large Cap Core Equity (MF) - - - - - - - - - - - -
3.6
Asset $ Asset %Total Fee* 3 Month CYTD 1 Year 3 Year 5 Year 10 Year
South Carolina State ORP (MetLife)Performance Scorecard (net of fees)June 30, 2015
Performance(%) and Percentile Rank
Target-Date Retirement FundsAlliance Bernstein 2045 Adv (LTPVX) 13,122,807 7.67 91 1.11 1 4.44 2 2.69 42 14.16 13 12.35 70 -Alliance Bernstein 2045 Index 0.16 2.28 0.61 13.77 13.32 -Excess Return 0.95 2.16 2.08 0.39 -0.97 -IM Mixed-Asset Target 2045 (MF) - - - - - - - - - - - -
Alliance Bernstein 2040 Adv (LTLVX) 4,530,902 2.65 91 1.00 1 4.37 2 2.62 41 13.98 11 12.20 46 -Alliance Bernstein 2040 Index 0.17 2.28 0.54 13.69 13.31 -Excess Return 0.83 2.09 2.08 0.29 -1.11 -IM Mixed-Asset Target 2040 (MF) - - - - - - - - - - - -
Alliance Bernstein 2035 Adv (LTKVX) 3,226,066 1.88 91 0.86 2 4.04 3 1.99 62 13.25 20 11.75 60 -Alliance Bernstein 2035 Index 0.13 2.09 -0.21 13.07 12.95 -Excess Return 0.73 1.95 2.20 0.18 -1.20 -IM Mixed-Asset Target 2035 (MF) - - - - - - - - - - - -
Alliance Bernstein 2030 Adv (LTJVX) 2,006,085 1.17 91 0.64 2 3.72 3 1.36 57 12.35 15 11.17 43 -Alliance Bernstein 2030 Index 0.06 1.90 -0.83 12.29 12.38 -Excess Return 0.58 1.82 2.19 0.06 -1.21 -IM Mixed-Asset Target 2030 (MF) - - - - - - - - - - - -
Alliance Bernstein 2025 Adv (LTIVX) 1,553,823 0.91 89 0.41 1 3.21 3 0.69 76 11.08 25 10.38 54 -Alliance Bernstein 2025 Index -0.04 1.63 -1.43 11.18 11.62 -Excess Return 0.45 1.58 2.12 -0.10 -1.24 -IM Mixed-Asset Target 2025 (MF) - - - - - - - - - - - -
Alliance Bernstein 2020 Adv (LTHVX) 1,334,846 0.78 87 0.26 1 2.88 3 0.27 77 9.95 14 9.62 34 -Alliance Bernstein 2020 Index -0.11 1.51 -1.64 10.08 10.76 -Excess Return 0.37 1.37 1.91 -0.13 -1.14 -IM Mixed-Asset Target 2020 (MF) - - - - - - - - - - - -
Alliance Bernstein 2015 Adv (LTEVX) 670,679 0.39 83 0.17 1 2.63 1 0.04 83 8.93 15 8.99 37 -Alliance Bernstein 2015 Index -0.18 1.37 -1.80 9.02 9.95 -Excess Return 0.35 1.26 1.84 -0.09 -0.96 -IM Mixed-Asset Target 2015 (MF) - - - - - - - - - - - -
Alliance Bernstein 2010 Adv (LTDVX) 15,455,713 9.03 79 -0.09 3 2.16 5 0.01 76 7.69 21 8.11 42 -Alliance Bernstein 2010 Index -0.24 1.22 -1.46 7.85 9.03 -Excess Return 0.15 0.94 1.47 -0.16 -0.92 -IM Mixed-Asset Target 2010 (MF) - - - - - - - - - - - -
Sector FundCohen & Steers Realty Shares (CSRSX) 5,287,007 3.09 112 -9.73 48 -5.09 29 5.32 20 9.11 20 13.77 43 7.46 18FTSE NAREIT Equity REIT Index -9.95 -5.67 4.33 8.93 14.28 7.00Excess Return 0.22 0.58 0.99 0.18 -0.51 0.46IM Real Estate Sector (MF) - - - - - - - - - - - -
*The Total Fee reflects each fund's expense ratio plus a 15 bps administrative fee assessed by MetLife.
3.7
Asset $ Asset %Total Fee* 3 Month CYTD 1 Year 3 Year 5 Year 10 Year
South Carolina State ORP (MetLife)Performance Scorecard (net of fees)June 30, 2015
Performance(%) and Percentile Rank
Fixed Income FundPIMCO Total Return Admin (PTRAX) 7,966,306 4.65 86 -1.90 68 0.22 40 1.04 52 2.19 76 3.77 68 5.46 21Barclays Aggregate -1.68 -0.10 1.86 1.83 3.35 4.44Excess Return -0.22 0.32 -0.82 0.36 0.42 1.02IM U.S. Broad Market Core+ Fixed Income (MF) - - - - - - - - - - - -
Money Market/Stable Value FundsSSgA Money Market N (SSMXX) 1,658,603 0.97 52 0.00 85 0.00 85 0.00 83 0.00 75 0.01 75 1.41 2890 Day US Treasury Bill 0.01 0.02 0.03 0.05 0.07 1.38Excess Return -0.01 -0.02 -0.03 -0.05 -0.06 0.03IM U.S. Taxable Money Market (MF) - - - - - - - - - - - -
Metlife Gold Track Select (3.00%) 23,770,226 13.89 -- 0.74 1.49 3.00 3.00 3.00 3.2790 Day US Treasury Bill 0.01 0.02 0.03 0.05 0.07 1.38Excess Return 0.73 1.47 2.97 2.95 2.93 1.89
MetLife Total 171,154,967 100.00 74 - - - - - - - - - - - -
*The Total Fee reflects each fund's expense ratio plus a 15 bps administrative fee assessed by MetLife.
3.8
0.00%
1.00%
2.00%
3.00%
4.00%
5.00%
6.00%
Dec-
04M
ar-0
5Ju
n-05
Sep-
05De
c-05
Mar
-06
Jun-
06Se
p-06
Dec-
06M
ar-0
7Ju
n-07
Sep-
07De
c-07
Mar
-08
Jun-
08Se
p-08
Dec-
08M
ar-0
9Ju
n-09
Sep-
09De
c-09
Mar
-10
Jun-
10Se
p-10
Dec-
10M
ar-1
1Ju
n-11
Sep-
11De
c-11
Mar
-12
Jun-
12Se
p-12
Dec-
12M
ar-1
3Ju
n-13
Sep-
13De
c-13
Mar
-14
Jun-
14Se
p-14
Dec-
14M
ar-1
5Ju
n-15
MetLife Historical Crediting Rates
MetLife New Money Rate
3.9
Mutual Fund Details Relative Performance *
Individual Portfolio Statistics - 3 Years
Style Analysis - 3 Years
3 Year Rolling Under/Over Performance * 3 Yr Rolling Percentile Ranking (Return) *
Fund Objective
3 Year Rolling Percentile Ranking (Tracking Error) *
Cumulative Annualized Relative Performance Over/Under Performance
0.00
0.20
0.40
-0.20
-0.40
-0.60Re
turn
(%)
7/10 1/11 7/11 1/12 7/12 1/13 7/13 1/14 7/14 1/15 6/15
Style History Jun-2015 Avg. Exposure
Capi
taliz
atio
n
Manager Style
Large Cap Growth
Small Cap GrowthSmall Cap Value
Large Cap Value
Return StandardDeviation
SharpeRatio Beta R-Squared Tracking
ErrorInformation
Ratio Consistency UpCapture
DownCapture
SSgA S&P 500 Index N (SVSPX) 17.09 8.42 1.92 1.00 1.00 0.05 -3.51 19.44 99.31 100.48S&P 500 17.31 8.43 1.94 1.00 1.00 0.00 - 0.00 100.00 100.0090 Day US Treasury Bill 0.05 0.02 - 0.00 0.05 8.44 -1.94 27.78 0.17 -0.23
Under Sep-2010 Jun-2015
-15.0
0.0
15.0
30.0
SSgA
S&P
500
Inde
x N
(SVS
PX)
(%)
-15.0 0.0 15.0 30.0
S&P 500 (%)
OverPerformance
UnderPerformance
SSgA S&P 500 Index N (SVSPX) S&P 500
0
25
50
75
100
Retu
rn Pe
rcen
tile
Rank
9/10 6/11 3/12 12/12 9/13 6/14 6/15
SSgA S&P 500 Index N (SVSPX)
0
25
50
75
100
Trac
king
Erro
r Pe
rcen
tile
Rank
9/10 6/11 3/12 12/12 9/13 6/14 6/15
SSgA S&P 500 Index N (SVSPX) June 30, 2015
* 5 Year look back, if 5 years is not available, a since inception time period is used.
3.10
Product Name : SSgA:S&P 500 Index;N (SVSPX)Fund Family : State Street Bank and Trust CompanyTicker : SVSPXPeer Group : IM U.S. Large Cap Core Equity (MF)Benchmark : S&P 500Fund Inception : 12/30/1992Portfolio Manager : Team ManagedTotal Assets : $1,616 MillionTotal Assets Date : 06/30/2015Total Fee : 0.31%Turnover : 4%
The Fund seeks to replicate as closely as possible theperformance of the Standard & Poor's 500 Index. The Fundseeks to achieve its objective by investing substantially all of itsinvestable assets in a corresponding portfolio that uses apassive management strategy designed to track theperformance of the Index.
Mutual Fund Details Relative Performance *
Individual Portfolio Statistics - 3 Years
Style Analysis - 3 Years
3 Year Rolling Under/Over Performance * 3 Year Rolling Percentile Ranking (Return) *
Fund Objective
3 Year Rolling Percentile Ranking (Tracking Error) *
Cumulative Annualized Relative Performance Over/Under Performance
0.00
0.66
1.32
1.98
-0.66
-1.32
-1.98Re
turn
(%)
7/10 1/11 7/11 1/12 7/12 1/13 7/13 1/14 7/14 1/15 6/15
Style History Jun-2015 Avg. Exposure
Capi
taliz
atio
n
Manager Style
Large Cap Growth
Small Cap GrowthSmall Cap Value
Large Cap Value
The Fund seeks to provide a high total return from a broadlydiversified portfolio of equity securities with risk characteristicssimilar to the Standard & Poor's 500 Stock Index (S&P 500).
Return StandardDeviation
SharpeRatio Beta R-Squared Tracking
ErrorInformation
Ratio Consistency UpCapture
DownCapture
JPMorgan Disciplined Equity A (JDEAX) 18.81 8.75 2.02 1.02 0.96 1.76 0.75 66.67 104.15 94.12S&P 500 17.31 8.43 1.94 1.00 1.00 0.00 - 0.00 100.00 100.0090 Day US Treasury Bill 0.05 0.02 - 0.00 0.05 8.44 -1.94 27.78 0.17 -0.23
Over Under Sep-2010 Jun-2015
-15.0
0.0
15.0
30.0
JPM
orga
n D
isci
plin
ed Eq
uity
A (J
DEA
X) (%
)
-15.0 0.0 15.0 30.0
S&P 500 (%)
OverPerformance
UnderPerformance
JPMorgan Disciplined Equity A (JDEAX) S&P 500
0
25
50
75
100
Retu
rn Pe
rcen
tile
Rank
9/10 6/11 3/12 12/12 9/13 6/14 6/15
JPMorgan Disciplined Equity A (JDEAX)
0
25
50
75
100Tr
acki
ng Er
ror
Perc
entil
e Ra
nk9/10 6/11 3/12 12/12 9/13 6/14 6/15
JPMorgan Disciplined Equity A (JDEAX) June 30, 2015
* 5 Year look back, if 5 years is not available, a since inception time period is used.3.11
Product Name : JPMorgan:Disc Eq;A (JDEAX)Fund Family : JPMorgan FundsTicker : JDEAXPeer Group : IM U.S. Large Cap Core Equity (MF)Benchmark : S&P 500Fund Inception : 09/28/2001Portfolio Manager : Zingone/Lee/GlatterTotal Assets : $484 MillionTotal Assets Date : 06/30/2015Total Fee : 1.00%Turnover : 113%
Mutual Fund Details Relative Performance *
Individual Portfolio Statistics - 3 Years
Style Analysis - 3 Years
3 Year Rolling Under/Over Performance * 3 Year Rolling Percentile Ranking (Return) *
Fund Objective
3 Year Rolling Percentile Ranking (Tracking Error) *
Cumulative Annualized Relative Performance Over/Under Performance
0.00
2.00
4.00
-2.00
-4.00Re
turn
(%)
7/10 1/11 7/11 1/12 7/12 1/13 7/13 1/14 7/14 1/15 6/15
Style History Jun-2015 Avg. Exposure
Capi
taliz
atio
n
Manager Style
Large Cap Growth
Small Cap GrowthSmall Cap Value
Large Cap Value
The Fund seeks to provide income over time by investingprimarily in common stocks of large, established companiesthat offer growth potential at reasonable prices. The Fund mayalso invest significantly in non-US securities.
Return StandardDeviation
SharpeRatio Beta R-Squared Tracking
ErrorInformation
Ratio Consistency UpCapture
DownCapture
Amer Funds Fundamental Investors A (ANCFX) 17.12 8.42 1.92 0.88 0.84 3.50 -0.06 50.00 94.56 84.43Russell 1000 Value Index 17.34 8.76 1.88 1.00 1.00 0.00 - 0.00 100.00 100.0090 Day US Treasury Bill 0.05 0.02 - 0.00 0.04 8.76 -1.88 27.78 0.15 -0.30
Over Under Sep-2010 Jun-2015
-30.0
-15.0
0.0
15.0
30.0
mer
Fund
s Fu
ndam
enta
l
Inve
stor
s A
(AN
CFX)
(
-30.0 -15.0 0.0 15.0 30.0
Russell 1000 Value Index (%)
OverPerformance
UnderPerformance
Amer Funds Fundamental Investors A (ANCFX)
Russell 1000 Value Index
0
25
50
75
100
Retu
rn Pe
rcen
tile
Rank
9/10 6/11 3/12 12/12 9/13 6/14 6/15
Amer Funds Fundamental Investors A (ANCFX)
0
25
50
75
100Tr
acki
ng Er
ror
Perc
entil
e Ra
nk9/10 6/11 3/12 12/12 9/13 6/14 6/15
Amer Funds Fundamental Investors A (ANCFX) June 30, 2015
* 5 Year look back, if 5 years is not available, a since inception time period is used.3.12
Product Name : American Funds FInv;A (ANCFX)Fund Family : American FundsTicker : ANCFXPeer Group : IM U.S. Large Cap Value Equity (MF)Benchmark : Russell 1000 Value IndexFund Inception : 12/15/1932Portfolio Manager : Team ManagedTotal Assets : $44,827 MillionTotal Assets Date : 06/30/2015Total Fee : 0.76%Turnover : 29%
Mutual Fund Details Relative Performance *
Individual Portfolio Statistics - 3 Years
Style Analysis - 3 Years
3 Year Rolling Under/Over Performance * 3 Year Rolling Percentile Ranking (Return) *
Fund Objective
3 Year Rolling Percentile Ranking (Tracking Error) *
Cumulative Annualized Relative Performance Over/Under Performance
0.00
3.00
6.00
-3.00
-6.00
-9.00Re
turn
(%)
7/10 1/11 7/11 1/12 7/12 1/13 7/13 1/14 7/14 1/15 6/15
Style History Jun-2015 Avg. Exposure
Capi
taliz
atio
n
Manager Style
Large Cap Growth
Small Cap GrowthSmall Cap Value
Large Cap Value
The Fund seeks capital appreciation. The Fund seeksinvestments primarily in companies which managementbelieves are leaders in innovation, take advantage of newtechnologies, have superior management, and benefit fromnew industry conditions in the dynamically changing globaleconomy.
Return StandardDeviation
SharpeRatio Beta R-Squared Tracking
ErrorInformation
Ratio Consistency UpCapture
DownCapture
Franklin DynaTech A (FKDNX) 18.30 11.34 1.54 1.09 0.71 6.19 0.09 55.56 101.97 98.89Russell 1000 Growth Index 17.99 8.75 1.94 1.00 1.00 0.00 - 0.00 100.00 100.0090 Day US Treasury Bill 0.05 0.02 - 0.00 0.04 8.76 -1.94 36.11 0.14 -0.31
Over Under Sep-2010 Jun-2015
-15.0
0.0
15.0
30.0
45.0
Fran
klin
Dyn
aTec
h A
(FKD
NX)
(%)
-15.0 0.0 15.0 30.0 45.0
Russell 1000 Growth Index (%)
OverPerformance
UnderPerformance
Franklin DynaTech A (FKDNX) Russell 1000 Growth Index
0
25
50
75
100
Retu
rn Pe
rcen
tile
Rank
9/10 6/11 3/12 12/12 9/13 6/14 6/15
Franklin DynaTech A (FKDNX)
0
25
50
75
100Tr
acki
ng Er
ror
Perc
entil
e Ra
nk9/10 6/11 3/12 12/12 9/13 6/14 6/15
Franklin DynaTech A (FKDNX) June 30, 2015
* 5 Year look back, if 5 years is not available, a since inception time period is used.3.13
Product Name : Franklin Cust:Dyna;A (FKDNX)Fund Family : Franklin Templeton InvestmentsTicker : FKDNXPeer Group : IM U.S. Large Cap Growth Equity (MF)Benchmark : Russell 1000 Growth IndexFund Inception : 01/01/1968Portfolio Manager : Johnson/MobergTotal Assets : $1,849 MillionTotal Assets Date : 05/31/2015Total Fee : 1.04%Turnover : 26%
Mutual Fund Details Relative Performance *
Individual Portfolio Statistics - 3 Years
Style Analysis - 3 Years
3 Year Rolling Under/Over Performance * 3 Yr Rolling Percentile Ranking (Return) *
Fund Objective
3 Year Rolling Percentile Ranking (Tracking Error) *
Cumulative Annualized Relative Performance Over/Under Performance
0.00
0.20
-0.20
-0.40
-0.60
-0.80Re
turn
(%)
7/10 1/11 7/11 1/12 7/12 1/13 7/13 1/14 7/14 1/15 6/15
Style History Jun-2015 Avg. Exposure
Capi
taliz
atio
n
Manager Style
Large Cap Growth
Small Cap GrowthSmall Cap Value
Large Cap Value
The Fund seeks investment results that (before fees and afterexpenses) correspond to the total return of the Standard &Poor's Mid-Cap 400 Stock Price Index. The Fund normallyinvests at least 80% of its assets in common stocks that areincluded in the S&P Mid-Cap 400.
Return StandardDeviation
SharpeRatio Beta R-Squared Tracking
ErrorInformation
Ratio Consistency UpCapture
DownCapture
Columbia Mid Cap Index A (NTIAX) 18.04 10.13 1.69 1.00 1.00 0.07 -6.84 0.00 98.74 102.02S&P MidCap 400 18.60 10.11 1.74 1.00 1.00 0.00 - 0.00 100.00 100.0090 Day US Treasury Bill 0.05 0.02 - 0.00 0.01 10.11 -1.74 30.56 0.13 -0.27
Under Sep-2010 Jun-2015
-15.0
0.0
15.0
30.0
45.0
Colu
mbi
a M
id Ca
p In
dex
A (N
TIAX
) (%
)
-15.0 0.0 15.0 30.0 45.0
S&P MidCap 400 (%)
OverPerformance
UnderPerformance
Columbia Mid Cap Index A (NTIAX) S&P MidCap 400
0
25
50
75
100
Retu
rn Pe
rcen
tile
Rank
9/10 6/11 3/12 12/12 9/13 6/14 6/15
Columbia Mid Cap Index A (NTIAX)
0
25
50
75
100
Trac
king
Erro
r Pe
rcen
tile
Rank
9/10 6/11 3/12 12/12 9/13 6/14 6/15
Columbia Mid Cap Index A (NTIAX) June 30, 2015
* 5 Year look back, if 5 years is not available, a since inception time period is used.
3.14
Product Name : Columbia:MdCp Index;A (NTIAX)Fund Family : Columbia Threadneedle InvestmentsTicker : NTIAXPeer Group : IM U.S. Mid Cap Core Equity (MF)Benchmark : S&P MidCap 400Fund Inception : 05/31/2000Portfolio Manager : Alley III/ShteynTotal Assets : $1,118 MillionTotal Assets Date : 06/30/2015Total Fee : 0.60%Turnover : 13%
Mutual Fund Details Relative Performance *
Individual Portfolio Statistics - 3 Years
Style Analysis - 3 Years
3 Year Rolling Under/Over Performance * 3 Year Rolling Percentile Ranking (Return) *
Fund Objective
3 Year Rolling Percentile Ranking (Tracking Error) *
Cumulative Annualized Relative Performance Over/Under Performance
0.00
2.00
4.00
6.00
-2.00
-4.00Re
turn
(%)
7/10 1/11 7/11 1/12 7/12 1/13 7/13 1/14 7/14 1/15 6/15
Style History Jun-2015 Avg. Exposure
Capi
taliz
atio
n
Manager Style
Large Cap Growth
Small Cap GrowthSmall Cap Value
Large Cap Value
The Fund seeks long-term capital appreciation. The Fundinvests primarily in stocks of small companies that the Fundmanager believes have a combination of attractive valuations,growth prospects, and strong cash flows. Under normalcircumstances, at least 80% of the Fund's net assets areinvested in small-cap companies.
Return StandardDeviation
SharpeRatio Beta R-Squared Tracking
ErrorInformation
Ratio Consistency UpCapture
DownCapture
Delaware Small Cap Core I (DCCIX) 19.52 11.70 1.59 0.92 0.94 2.98 0.46 50.00 98.84 84.39Russell 2000 Index 17.81 12.33 1.40 1.00 1.00 0.00 - 0.00 100.00 100.0090 Day US Treasury Bill 0.05 0.02 - 0.00 0.03 12.33 -1.40 33.33 0.10 -0.23
Over Under Sep-2010 Jun-2015
-15.0
0.0
15.0
30.0
45.0
Del
awar
e Sm
all
Ca
p Co
re I
(D
CCIX
) (%
)
-15.0 0.0 15.0 30.0 45.0
Russell 2000 Index (%)
OverPerformance
UnderPerformance
Delaware Small Cap Core I (DCCIX) Russell 2000 Index
0
25
50
75
100
Retu
rn Pe
rcen
tile
Rank
9/10 6/11 3/12 12/12 9/13 6/14 6/15
Delaware Small Cap Core I (DCCIX)
0
25
50
75
100Tr
acki
ng Er
ror
Perc
entil
e Ra
nk9/10 6/11 3/12 12/12 9/13 6/14 6/15
Delaware Small Cap Core I (DCCIX) June 30, 2015
* 5 Year look back, if 5 years is not available, a since inception time period is used.3.15
Product Name : Delaware SmCp Core;Inst (DCCIX)Fund Family : Delaware Management CompanyTicker : DCCIXPeer Group : IM U.S. Small Cap Core Equity (MF)Benchmark : Russell 2000 IndexFund Inception : 12/29/1998Portfolio Manager : Team ManagedTotal Assets : $543 MillionTotal Assets Date : 06/30/2015Total Fee : 1.22%Turnover : 30%
Mutual Fund Details Relative Performance *
Individual Portfolio Statistics - 3 Years
Style Analysis - 3 Years
3 Year Rolling Under/Over Performance * 3 Yr Rolling Percentile Ranking (Return) *
Fund Objective
3 Year Rolling Percentile Ranking (Tracking Error) *
Cumulative Annualized Relative Performance Over/Under Performance
0.00
2.00
4.00
6.00
-2.00
-4.00Re
turn
(%)
7/10 1/11 7/11 1/12 7/12 1/13 7/13 1/14 7/14 1/15 6/15
Style History Jun-2015 Avg. Exposure
Capi
taliz
atio
n
Manager Style
MSCI EAFE Growth Index
MSCI EAFE Small Cap GrowthMSCI EAFE Small Cap Value
MSCI EAFE Value Index
The Fund seeks to provide long-term growth of capital byinvesting in companies based outside the United States. TheFund Invests in companies based chiefly in Europe and thePacific Basin, ranging from small firms to large corporations.
Return StandardDeviation
SharpeRatio Beta R-Squared Tracking
ErrorInformation
Ratio Consistency UpCapture
DownCapture
Amer Funds EuroPacific Growth A (AEPGX) 12.32 9.08 1.32 0.84 0.89 3.44 0.73 52.78 96.22 67.68MSCI AC World ex USA (Net) 9.44 10.21 0.93 1.00 1.00 0.00 - 0.00 100.00 100.0090 Day US Treasury Bill 0.05 0.02 - 0.00 0.00 10.21 -0.93 36.11 0.20 -0.15
Over Under Sep-2010 Jun-2015
-20.0
-10.0
0.0
10.0
20.0
30.0
Amer
Fund
s Eu
roPa
cific
Gro
wth
A (A
EPG
X) (%
-20.0 -10.0 0.0 10.0 20.0 30.0
MSCI AC World ex USA (Net) (%)
OverPerformance
UnderPerformance
Amer Funds EuroPacific Growth A (AEPGX)
MSCI AC World ex USA (Net)
0
25
50
75
100
Retu
rn Pe
rcen
tile
Rank
9/10 6/11 3/12 12/12 9/13 6/14 6/15
Amer Funds EuroPacific Growth A (AEPGX)
0
25
50
75
100Tr
acki
ng Er
ror
Perc
entil
e Ra
nk9/10 6/11 3/12 12/12 9/13 6/14 6/15
Amer Funds EuroPacific Growth A (AEPGX) June 30, 2015
* 5 Year look back, if 5 years is not available, a since inception time period is used.3.16
Product Name : American Funds EuPc;A (AEPGX)Fund Family : American FundsTicker : AEPGXPeer Group : IM International Large Cap Equity (MF)Benchmark : MSCI AC World ex USA (Net)Fund Inception : 04/16/1984Portfolio Manager : Team ManagedTotal Assets : $31,235 MillionTotal Assets Date : 06/30/2015Total Fee : 0.98%Turnover : 28%
Mutual Fund Details Relative Performance *
Individual Portfolio Statistics - 3 Years
Asset Allocation
3 Year Rolling Under/Over Performance * 3 Year Rolling Percentile Ranking (Return) *
Fund Objective
3 Year Rolling Percentile Ranking (Tracking Error) *
Cumulative Annualized Relative Performance Over/Under Performance
0.00
3.00
6.00
9.00
-3.00
-6.00Re
turn
(%)
7/10 1/11 7/11 1/12 7/12 1/13 7/13 1/14 7/14 1/15 6/15
Product Name : Invesco Eq & Income;A (ACEIX)Fund Family : Invesco FundsTicker : ACEIXPeer Group : IM Mixed-Asset Tgt Alloc Moderate
0.00% 50.00% 100.00%-50.00 %
Other
Convertibles
Cash
Fixed Income
Equities
-1.42 %
0.00%
10.54%
25.74%
65.14%
The Fund seeks the highest possible income consistent withsafety of principal. Long-term growth of capital is an importantsecondary objective. The Fund seeks to achieve its investmentobjective by investing primarily in income-producing equitysecurities and investment grade quality debt securities.
Return StandardDeviation
SharpeRatio Beta R-Squared Tracking
ErrorInformation
Ratio Consistency UpCapture
DownCapture
Invesco Equity and Income A (ACEIX) 13.45 6.32 2.03 1.14 0.89 2.19 1.03 63.89 117.20 106.3260% Russ 1000 Value / 40% Barclays Agg 11.01 5.26 2.01 1.00 1.00 0.00 - 0.00 100.00 100.0090 Day US Treasury Bill 0.05 0.02 - 0.00 0.03 5.26 -2.01 25.00 0.26 -0.38
Over Under Sep-2010 Jun-2015
-8.0
0.0
8.0
16.0
24.0
Inve
sco
Equi
ty an
d In
com
e A
(ACE
IX)
(%)
-8.0 0.0 8.0 16.0 24.0
60% Russ 1000 Value / 40% Barclays Agg (%)
OverPerformance
UnderPerformance
Invesco Equity and Income A (ACEIX)
60% Russ 1000 Value / 40% Barclays Agg
0
25
50
75
100
Retu
rn Pe
rcen
tile
Rank
9/10 6/11 3/12 12/12 9/13 6/14 6/15
Invesco Equity and Income A (ACEIX)
0
25
50
75
100Tr
acki
ng Er
ror
Perc
entil
e Ra
nk9/10 6/11 3/12 12/12 9/13 6/14 6/15
Invesco Equity and Income A (ACEIX) June 30, 2015
* 5 Year look back, if 5 years is not available, a since inception time period is used.3.17
(MF)Benchmark : 60% Russ 1000 Value / 40% Barclays AggFund Inception : 08/03/1960Portfolio Manager : Thomas BastianTotal Assets : $10,320 MillionTotal Assets Date : 06/30/2015Total Fee : 0.95%Turnover : 60%
Mutual Fund Details Relative Performance *
Individual Portfolio Statistics - 3 Years
Top Ten Holdings
3 Year Rolling Under/Over Performance * 3 Year Rolling Percentile Ranking (Return) *
Fund Objective
3 Year Rolling Percentile Ranking (Tracking Error) *
Cumulative Annualized Relative Performance Over/Under Performance
0.00
2.00
4.00
-2.00
-4.00
-6.00Re
turn
(%)
7/10 1/11 7/11 1/12 7/12 1/13 7/13 1/14 7/14 1/15 6/15
Apple Inc ORD 1.40 %UnitedHealth Group Inc ORD 1.00 %Exxon Mobil Corp ORD 0.92 %CVS Health Corp ORD 0.88 %AIA Group Ltd ORD 0.85 %Facebook Inc ORD 0.79 %Biogen Inc ORD 0.78 %Gilead Sciences Inc ORD 0.78 %Visa Inc ORD 0.76 %Toyota Motor Corp ORD 0.75 %
The Fund seeks the highest total return over time consistentwith its asset mix. Total return includes capital growth andincome. The Fund invests in a combination of portfoliosrepresenting a variety of asset classes and investment styles.The Fund's target allocation is 100% in equity funds.
Return StandardDeviation
SharpeRatio Beta R-Squared Tracking
ErrorInformation
Ratio Consistency UpCapture
DownCapture
AllianceBern Retirement 2045 Adv (LTPVX) 14.16 8.46 1.61 0.97 0.93 2.23 0.16 55.56 98.47 90.45Alliance Bernstein 2045 Index 13.77 8.42 1.58 1.00 1.00 0.00 - 0.00 100.00 100.0090 Day US Treasury Bill 0.05 0.02 - 0.00 0.00 8.42 -1.58 30.56 0.19 -0.21
Under Sep-2010 Jun-2015
-15.0
0.0
15.0
30.0
Allia
nceB
ern
Retir
emen
t
2045
Adv
(LTP
VX)
(%
-15.0 0.0 15.0 30.0
Alliance Bernstein 2045 Index (%)
OverPerformance
UnderPerformance
AllianceBern Retirement 2045 Adv (LTPVX)
Alliance Bernstein 2045 Index
0
25
50
75
100
Retu
rn Pe
rcen
tile
Rank
9/10 6/11 3/12 12/12 9/13 6/14 6/15
AllianceBern Retirement 2045 Adv (LTPVX)
0
25
50
75
100Tr
acki
ng Er
ror
Perc
entil
e Ra
nk9/10 6/11 3/12 12/12 9/13 6/14 6/15
AllianceBern Retirement 2045 Adv (LTPVX) June 30, 2015
* 5 Year look back, if 5 years is not available, a since inception time period is used.
Product Name : AB 2045 Ret Strat;Adv (LTPVX)Fund Family : AllianceBernstein LPTicker : LTPVXPeer Group : IM Mixed-Asset Target 2045 (MF)Benchmark : Alliance Bernstein 2045 IndexFund Inception : 09/01/2005Portfolio Manager : Team ManagedTotal Assets : $14 MillionTotal Assets Date : 06/30/2015Total Fee : 0.91%Turnover : 20%
3.18
Mutual Fund Details Relative Performance *
Individual Portfolio Statistics - 3 Years
Top Ten Holdings
3 Year Rolling Under/Over Performance * 3 Year Rolling Percentile Ranking (Return) *
Fund Objective
3 Year Rolling Percentile Ranking (Tracking Error) *
Cumulative Annualized Relative Performance Over/Under Performance
0.00
2.00
4.00
-2.00
-4.00
-6.00Re
turn
(%)
7/10 1/11 7/11 1/12 7/12 1/13 7/13 1/14 7/14 1/15 6/15
Apple Inc ORD 1.40 %UnitedHealth Group Inc ORD 0.95 %Exxon Mobil Corp ORD 0.92 %CVS Health Corp ORD 0.84 %iShares Core MSCI Emerging Markets ETF 0.82 %AIA Group Ltd ORD 0.81 %Facebook Inc ORD 0.76 %Gilead Sciences Inc ORD 0.75 %Biogen Inc ORD 0.75 %Visa Inc ORD 0.73 %
The Fund seeks the highest total return over time consistentwith its asset mix. Total return includes capital growth andincome. The Fund invests in a combination of portfoliosrepresenting a variety of asset classes and investment styles.The Fund's target allocation is 100% in equity funds.
Return StandardDeviation
SharpeRatio Beta R-Squared Tracking
ErrorInformation
Ratio Consistency UpCapture
DownCapture
AllianceBern Retirement 2040 Adv (LTLVX) 13.98 8.42 1.60 0.97 0.93 2.18 0.12 55.56 97.95 90.35Alliance Bernstein 2040 Index 13.69 8.43 1.57 1.00 1.00 0.00 - 0.00 100.00 100.0090 Day US Treasury Bill 0.05 0.02 - 0.00 0.00 8.43 -1.57 30.56 0.19 -0.21
Under Sep-2010 Jun-2015
-15.0
0.0
15.0
30.0
Allia
nceB
ern
Retir
emen
t 20
40 Ad
v (L
TLVX
) (%
-15.0 0.0 15.0 30.0
Alliance Bernstein 2040 Index (%)
OverPerformance
UnderPerformance
AllianceBern Retirement 2040 Adv (LTLVX)
Alliance Bernstein 2040 Index
0
25
50
75
100
Retu
rn Pe
rcen
tile
Rank
9/10 6/11 3/12 12/12 9/13 6/14 6/15
AllianceBern Retirement 2040 Adv (LTLVX)
0
25
50
75
100Tr
acki
ng Er
ror
Perc
entil
e Ra
nk9/10 6/11 3/12 12/12 9/13 6/14 6/15
AllianceBern Retirement 2040 Adv (LTLVX) June 30, 2015
* 5 Year look back, if 5 years is not available, a since inception time period is used.
Product Name : AB 2040 Ret Strat;Adv (LTLVX)Fund Family : AllianceBernstein LPTicker : LTLVXPeer Group : IM Mixed-Asset Target 2040 (MF)Benchmark : Alliance Bernstein 2040 IndexFund Inception : 09/01/2005Portfolio Manager : Team ManagedTotal Assets : $6 MillionTotal Assets Date : 06/30/2015Total Fee : 0.91%Turnover : 19%
3.19
Mutual Fund Details Relative Performance *
Individual Portfolio Statistics - 3 Years
Top Ten Holdings
3 Year Rolling Under/Over Performance * 3 Year Rolling Percentile Ranking (Return) *
Fund Objective
3 Year Rolling Percentile Ranking (Tracking Error) *
Cumulative Annualized Relative Performance Over/Under Performance
0.00
2.00
4.00
-2.00
-4.00
-6.00Re
turn
(%)
7/10 1/11 7/11 1/12 7/12 1/13 7/13 1/14 7/14 1/15 6/15
Apple Inc ORD 1.31 %iShares Core MSCI Emerging Markets ETF 1.02 %Exxon Mobil Corp ORD 0.96 %UnitedHealth Group Inc ORD 0.86 %CVS Health Corp ORD 0.76 %AIA Group Ltd ORD 0.71 %Facebook Inc ORD 0.69 %Gilead Sciences Inc ORD 0.68 %Biogen Inc ORD 0.67 %Visa Inc ORD 0.66 %
The Fund seeks the highest total return over time consistentwith its asset mix. Total return includes capital growth andincome. The Fund invests in a combination of portfoliosrepresenting a variety of asset classes and investment styles.The Fund's target allocation is 100% in equity funds.
Return StandardDeviation
SharpeRatio Beta R-Squared Tracking
ErrorInformation
Ratio Consistency UpCapture
DownCapture
AllianceBern Retirement 2035 Adv (LTKVX) 13.25 8.08 1.58 0.94 0.94 2.10 0.07 52.78 96.71 88.55Alliance Bernstein 2035 Index 13.07 8.28 1.52 1.00 1.00 0.00 - 0.00 100.00 100.0090 Day US Treasury Bill 0.05 0.02 - 0.00 0.00 8.28 -1.52 30.56 0.20 -0.21
Under Sep-2010 Jun-2015
-15.0
0.0
15.0
30.0
Allia
nceB
ern
Retir
emen
t
2035
Adv
(LTK
VX)
(%
-15.0 0.0 15.0 30.0
Alliance Bernstein 2035 Index (%)
OverPerformance
UnderPerformance
AllianceBern Retirement 2035 Adv (LTKVX)
Alliance Bernstein 2035 Index
0
25
50
75
100
Retu
rn Pe
rcen
tile
Rank
9/10 6/11 3/12 12/12 9/13 6/14 6/15
AllianceBern Retirement 2035 Adv (LTKVX)
0
25
50
75
100Tr
acki
ng Er
ror
Perc
entil
e Ra
nk9/10 6/11 3/12 12/12 9/13 6/14 6/15
AllianceBern Retirement 2035 Adv (LTKVX) June 30, 2015
* 5 Year look back, if 5 years is not available, a since inception time period is used.
Product Name : AB 2035 Ret Strat;Adv (LTKVX)Fund Family : AllianceBernstein LPTicker : LTKVXPeer Group : IM Mixed-Asset Target 2035 (MF)Benchmark : Alliance Bernstein 2035 IndexFund Inception : 09/01/2005Portfolio Manager : Team ManagedTotal Assets : $5 MillionTotal Assets Date : 06/30/2015Total Fee : 0.91%Turnover : 17%
3.20
Mutual Fund Details Relative Performance *
Individual Portfolio Statistics - 3 Years
Top Ten Holdings
3 Year Rolling Under/Over Performance * 3 Year Rolling Percentile Ranking (Return) *
Fund Objective
3 Year Rolling Percentile Ranking (Tracking Error) *
Cumulative Annualized Relative Performance Over/Under Performance
0.00
2.00
4.00
-2.00
-4.00
-6.00Re
turn
(%)
7/10 1/11 7/11 1/12 7/12 1/13 7/13 1/14 7/14 1/15 6/15
iShares Core MSCI Emerging Markets ETF 1.43 %Apple Inc ORD 1.23 %Exxon Mobil Corp ORD 0.98 %UnitedHealth Group Inc ORD 0.74 %CVS Health Corp ORD 0.66 %AIA Group Ltd ORD 0.62 %Facebook Inc ORD 0.61 %Gilead Sciences Inc ORD 0.60 %Biogen Inc ORD 0.58 %Visa Inc ORD 0.58 %
The Fund seeks the highest total return over time consistentwith its asset mix. Total return includes capital growth andincome. The Fund invests in a combination of portfoliosrepresenting a variety of asset classes and investment styles.The Fund's target allocation is 100% in equity funds.
Return StandardDeviation
SharpeRatio Beta R-Squared Tracking
ErrorInformation
Ratio Consistency UpCapture
DownCapture
AllianceBern Retirement 2030 Adv (LTJVX) 12.35 7.75 1.54 0.93 0.94 2.04 0.01 52.78 95.90 88.34Alliance Bernstein 2030 Index 12.29 8.06 1.48 1.00 1.00 0.00 - 0.00 100.00 100.0090 Day US Treasury Bill 0.05 0.02 - 0.00 0.00 8.06 -1.48 30.56 0.21 -0.22
Under Sep-2010 Jun-2015
-20.0
-10.0
0.0
10.0
20.0
30.0
Allia
nceB
ern
Retir
emen
t 20
30 Ad
v (L
TJVX
)
(%
-20.0 -10.0 0.0 10.0 20.0 30.0
Alliance Bernstein 2030 Index (%)
OverPerformance
UnderPerformance
AllianceBern Retirement 2030 Adv (LTJVX)
Alliance Bernstein 2030 Index
0
25
50
75
100
Retu
rn Pe
rcen
tile
Rank
9/10 6/11 3/12 12/12 9/13 6/14 6/15
AllianceBern Retirement 2030 Adv (LTJVX)
0
25
50
75
100Tr
acki
ng Er
ror
Perc
entil
e Ra
nk9/10 6/11 3/12 12/12 9/13 6/14 6/15
AllianceBern Retirement 2030 Adv (LTJVX) June 30, 2015
* 5 Year look back, if 5 years is not available, a since inception time period is used.
Product Name : AB 2030 Ret Strat;Adv (LTJVX)Fund Family : AllianceBernstein LPTicker : LTJVXPeer Group : IM Mixed-Asset Target 2030 (MF)Benchmark : Alliance Bernstein 2030 IndexFund Inception : 09/01/2005Portfolio Manager : Team ManagedTotal Assets : $4 MillionTotal Assets Date : 06/30/2015Total Fee : 0.91%Turnover : 14%
3.21
Mutual Fund Details Relative Performance *
Individual Portfolio Statistics - 3 Years
Top Ten Holdings
3 Year Rolling Under/Over Performance * 3 Year Rolling Percentile Ranking (Return) *
Fund Objective
3 Year Rolling Percentile Ranking (Tracking Error) *
Cumulative Annualized Relative Performance Over/Under Performance
0.00
2.00
4.00
-2.00
-4.00Re
turn
(%)
7/10 1/11 7/11 1/12 7/12 1/13 7/13 1/14 7/14 1/15 6/15
iShares Core MSCI Emerging Markets ETF 1.63 %Apple Inc ORD 1.11 %Exxon Mobil Corp ORD 0.98 %UnitedHealth Group Inc ORD 0.63 %CVS Health Corp ORD 0.56 %Facebook Inc ORD 0.53 %Gilead Sciences Inc ORD 0.51 %AIA Group Ltd ORD 0.51 %Biogen Inc ORD 0.49 %Visa Inc ORD 0.49 %
The Fund seeks the highest total return over time consistentwith its asset mix. Total return includes capital growth andincome. The Fund invests in a combination of portfoliosrepresenting a variety of asset classes and investment styles.The Fund's target allocation is 7% in bond funds and 93% inequity funds.
Return StandardDeviation
SharpeRatio Beta R-Squared Tracking
ErrorInformation
Ratio Consistency UpCapture
DownCapture
AllianceBern Retirement 2025 Adv (LTIVX) 11.08 7.16 1.50 0.91 0.94 1.87 -0.07 50.00 93.72 85.28Alliance Bernstein 2025 Index 11.18 7.63 1.43 1.00 1.00 0.00 - 0.00 100.00 100.0090 Day US Treasury Bill 0.05 0.02 - 0.00 0.00 7.63 -1.43 36.11 0.21 -0.25
Under Sep-2010 Jun-2015
-20.0
-10.0
0.0
10.0
20.0
30.0
Allia
nceB
ern
Retir
emen
t 20
25 Ad
v (L
TIVX
) (%
-20.0 -10.0 0.0 10.0 20.0 30.0
Alliance Bernstein 2025 Index (%)
OverPerformance
UnderPerformance
AllianceBern Retirement 2025 Adv (LTIVX)
Alliance Bernstein 2025 Index
0
25
50
75
100
Retu
rn Pe
rcen
tile
Rank
9/10 6/11 3/12 12/12 9/13 6/14 6/15
AllianceBern Retirement 2025 Adv (LTIVX)
0
25
50
75
100Tr
acki
ng Er
ror
Perc
entil
e Ra
nk9/10 6/11 3/12 12/12 9/13 6/14 6/15
AllianceBern Retirement 2025 Adv (LTIVX) June 30, 2015
* 5 Year look back, if 5 years is not available, a since inception time period is used.
Product Name : AB 2025 Ret Strat;Adv (LTIVX)Fund Family : AllianceBernstein LPTicker : LTIVXPeer Group : IM Mixed-Asset Target 2025 (MF)Benchmark : Alliance Bernstein 2025 IndexFund Inception : 09/01/2005Portfolio Manager : Team ManagedTotal Assets : $3 MillionTotal Assets Date : 06/30/2015Total Fee : 0.89%Turnover : 16%
3.22
Mutual Fund Details Relative Performance *
Individual Portfolio Statistics - 3 Years
Top Ten Holdings
3 Year Rolling Under/Over Performance * 3 Year Rolling Percentile Ranking (Return) *
Fund Objective
3 Year Rolling Percentile Ranking (Tracking Error) *
Cumulative Annualized Relative Performance Over/Under Performance
0.00
2.00
-2.00
-4.00Re
turn
(%)
7/10 1/11 7/11 1/12 7/12 1/13 7/13 1/14 7/14 1/15 6/15
iShares Core MSCI Emerging Markets ETF 1.63 %Apple Inc ORD 1.00 %Exxon Mobil Corp ORD 0.92 %UnitedHealth Group Inc ORD 0.55 %CVS Health Corp ORD 0.49 %Facebook Inc ORD 0.47 %Gilead Sciences Inc ORD 0.45 %AIA Group Ltd ORD 0.45 %Toyota Motor Corp ORD 0.43 %Visa Inc ORD 0.43 %
The Fund seeks the highest total return over time consistentwith its asset mix. Total return includes capital growth andincome. The Fund invests in a combination of portfoliosrepresenting a variety of asset classes and investment styles.The Fund's target allocation is 14% in bond funds and 86% inequity funds.
Return StandardDeviation
SharpeRatio Beta R-Squared Tracking
ErrorInformation
Ratio Consistency UpCapture
DownCapture
AllianceBern Retirement 2020 Adv (LTHVX) 9.95 6.62 1.46 0.91 0.95 1.66 -0.09 55.56 93.42 85.48Alliance Bernstein 2020 Index 10.08 7.10 1.38 1.00 1.00 0.00 - 0.00 100.00 100.0090 Day US Treasury Bill 0.05 0.02 - 0.00 0.00 7.10 -1.38 36.11 0.23 -0.26
Under Sep-2010 Jun-2015
-20.0
-10.0
0.0
10.0
20.0
30.0
llian
ceBe
rn Re
tirem
ent
2020
Adv
(LTH
VX)
(%
-20.0 -10.0 0.0 10.0 20.0 30.0
Alliance Bernstein 2020 Index (%)
OverPerformance
UnderPerformance
AllianceBern Retirement 2020 Adv (LTHVX)
Alliance Bernstein 2020 Index
0
25
50
75
100
Retu
rn Pe
rcen
tile
Rank
9/10 6/11 3/12 12/12 9/13 6/14 6/15
AllianceBern Retirement 2020 Adv (LTHVX)
0
25
50
75
100Tr
acki
ng Er
ror
Perc
entil
e Ra
nk9/10 6/11 3/12 12/12 9/13 6/14 6/15
AllianceBern Retirement 2020 Adv (LTHVX) June 30, 2015
* 5 Year look back, if 5 years is not available, a since inception time period is used.
Product Name : AB 2020 Ret Strat;Adv (LTHVX)Fund Family : AllianceBernstein LPTicker : LTHVXPeer Group : IM Mixed-Asset Target 2020 (MF)Benchmark : Alliance Bernstein 2020 IndexFund Inception : 09/01/2005Portfolio Manager : Team ManagedTotal Assets : $4 MillionTotal Assets Date : 06/30/2015Total Fee : 0.87%Turnover : 13%
3.23
Mutual Fund Details Relative Performance *
Individual Portfolio Statistics - 3 Years
Top Ten Holdings
3 Year Rolling Under/Over Performance * 3 Year Rolling Percentile Ranking (Return) *
Fund Objective
3 Year Rolling Percentile Ranking (Tracking Error) *
Cumulative Annualized Relative Performance Over/Under Performance
0.00
2.00
-2.00
-4.00Re
turn
(%)
7/10 1/11 7/11 1/12 7/12 1/13 7/13 1/14 7/14 1/15 6/15
iShares Core MSCI Emerging Markets ETF 1.63 %Apple Inc ORD 0.92 %Exxon Mobil Corp ORD 0.88 %UnitedHealth Group Inc ORD 0.48 %CVS Health Corp ORD 0.43 %Facebook Inc ORD 0.42 %Chevron Corp ORD 0.41 %Gilead Sciences Inc ORD 0.40 %Visa Inc ORD 0.39 %Biogen Inc ORD 0.38 %
The Fund seeks the highest total return over time consistentwith its asset mix. Total return includes capital growth andincome. The Fund invests in a combination of portfoliosrepresenting a variety of asset classes and investment styles.The Fund's target allocation is 21% in bond funds and 79% inequity funds.
Return StandardDeviation
SharpeRatio Beta R-Squared Tracking
ErrorInformation
Ratio Consistency UpCapture
DownCapture
AllianceBern Retirement 2015 Adv (LTEVX) 8.93 6.13 1.42 0.91 0.95 1.49 -0.07 50.00 94.08 87.10Alliance Bernstein 2015 Index 9.02 6.59 1.34 1.00 1.00 0.00 - 0.00 100.00 100.0090 Day US Treasury Bill 0.05 0.02 - 0.00 0.00 6.58 -1.34 36.11 0.25 -0.27
Over Under Sep-2010 Jun-2015
-10.0
0.0
10.0
20.0
30.0
Allia
nceB
ern
Retir
emen
t 20
15 Ad
v (L
TEVX
) (%
-10.0 0.0 10.0 20.0 30.0
Alliance Bernstein 2015 Index (%)
OverPerformance
UnderPerformance
AllianceBern Retirement 2015 Adv (LTEVX)
Alliance Bernstein 2015 Index
0
25
50
75
100
Retu
rn Pe
rcen
tile
Rank
9/10 6/11 3/12 12/12 9/13 6/14 6/15
AllianceBern Retirement 2015 Adv (LTEVX)
0
25
50
75
100Tr
acki
ng Er
ror
Perc
entil
e Ra
nk9/10 6/11 3/12 12/12 9/13 6/14 6/15
AllianceBern Retirement 2015 Adv (LTEVX) June 30, 2015
* 5 Year look back, if 5 years is not available, a since inception time period is used.
Product Name : AB 2015 Ret Strat;Adv (LTEVX)Fund Family : AllianceBernstein LPTicker : LTEVXPeer Group : IM Mixed-Asset Target 2015 (MF)Benchmark : Alliance Bernstein 2015 IndexFund Inception : 09/01/2005Portfolio Manager : Team ManagedTotal Assets : $3 MillionTotal Assets Date : 06/30/2015Total Fee : 0.83%Turnover : 13%
3.24
Mutual Fund Details Relative Performance *
Individual Portfolio Statistics - 3 Years
Top Ten Holdings
3 Year Rolling Under/Over Performance * 3 Year Rolling Percentile Ranking (Return) *
Fund Objective
3 Year Rolling Percentile Ranking (Tracking Error) *
Cumulative Annualized Relative Performance Over/Under Performance
0.00
0.97
1.94
-0.97
-1.94
-2.91
-3.88Re
turn
(%)
7/10 1/11 7/11 1/12 7/12 1/13 7/13 1/14 7/14 1/15 6/15
iShares Core MSCI Emerging Markets ETF 1.63 %Apple Inc ORD 0.78 %Exxon Mobil Corp ORD 0.75 %UnitedHealth Group Inc ORD 0.38 %Chevron Corp ORD 0.35 %CVS Health Corp ORD 0.34 %Facebook Inc ORD 0.34 %Gilead Sciences Inc ORD 0.32 %Wells Fargo & Co ORD 0.31 %Visa Inc ORD 0.31 %
The Fund seeks the highest total return over time consistentwith its asset mix. Total return includes capital growth andincome. The Fund invests in a combination of portfoliosrepresenting a variety of asset classes and investment styles.The Fund's target allocation is 28% in bond funds and 72% inequity funds.
Return StandardDeviation
SharpeRatio Beta R-Squared Tracking
ErrorInformation
Ratio Consistency UpCapture
DownCapture
AllianceBern Retirement 2010 Adv (LTDVX) 7.69 5.33 1.41 0.91 0.96 1.24 -0.14 50.00 93.46 87.01Alliance Bernstein 2010 Index 7.85 5.73 1.34 1.00 1.00 0.00 - 0.00 100.00 100.0090 Day US Treasury Bill 0.05 0.02 - 0.00 0.00 5.73 -1.34 36.11 0.29 -0.31
Over Under Sep-2010 Jun-2015
-8.0
0.0
8.0
16.0
24.0
llian
ceBe
rn Re
tirem
ent
2010
Adv
(LTD
VX)
(%
-8.0 0.0 8.0 16.0 24.0
Alliance Bernstein 2010 Index (%)
OverPerformance
UnderPerformance
AllianceBern Retirement 2010 Adv (LTDVX)
Alliance Bernstein 2010 Index
0
25
50
75
100
Retu
rn Pe
rcen
tile
Rank
9/10 6/11 3/12 12/12 9/13 6/14 6/15
AllianceBern Retirement 2010 Adv (LTDVX)
0
25
50
75
100Tr
acki
ng Er
ror
Perc
entil
e Ra
nk9/10 6/11 3/12 12/12 9/13 6/14 6/15
AllianceBern Retirement 2010 Adv (LTDVX) June 30, 2015
* 5 Year look back, if 5 years is not available, a since inception time period is used.
Product Name : AB 2010 Ret Strat;Adv (LTDVX)Fund Family : AllianceBernstein LPTicker : LTDVXPeer Group : IM Mixed-Asset Target 2010 (MF)Benchmark : Alliance Bernstein 2010 IndexFund Inception : 09/01/2005Portfolio Manager : Team ManagedTotal Assets : $17 MillionTotal Assets Date : 06/30/2015Total Fee : 0.79%Turnover : 16%
3.25
Mutual Fund Details Relative Performance *
Individual Portfolio Statistics - 3 Years
Style Analysis - 3 Years
3 Year Rolling Under/Over Performance * 3 Year Rolling Percentile Ranking (Return) *
Fund Objective
3 Year Rolling Percentile Ranking (Tracking Error) *
Cumulative Annualized Relative Performance Over/Under Performance
0.00
0.80
1.60
2.40
-0.80
-1.60
-2.40Re
turn
(%)
7/10 1/11 7/11 1/12 7/12 1/13 7/13 1/14 7/14 1/15 6/15
Style History Jun-2015 Avg. Exposure
Capi
taliz
atio
n
Manager Style
Large Cap Growth
Small Cap GrowthSmall Cap Value
Large Cap Value
The Fund seeks maximum total return through both incomeand capital appreciation by investing in publicly traded realestate securities, consisting primarily of equity real estateinvestment trusts.
Return StandardDeviation
SharpeRatio Beta R-Squared Tracking
ErrorInformation
Ratio Consistency UpCapture
DownCapture
Cohen & Steers Realty Shares (CSRSX) 9.11 13.09 0.73 0.98 0.99 1.00 0.13 50.00 98.68 96.87FTSE NAREIT Equity REIT Index 8.93 13.37 0.70 1.00 1.00 0.00 - 0.00 100.00 100.0090 Day US Treasury Bill 0.05 0.02 - 0.00 0.01 13.37 -0.70 33.33 0.15 -0.12
Over Under Sep-2010 Jun-2015
-20.0
0.0
20.0
40.0
60.0
Cohe
n &
Stee
rs Re
alty
Shar
es (C
SRSX
) (%
)
-20.0 0.0 20.0 40.0 60.0
FTSE NAREIT Equity REIT Index (%)
OverPerformance
UnderPerformance
Cohen & Steers Realty Shares (CSRSX) FTSE NAREIT Equity REIT Index
0
25
50
75
100
Retu
rn Pe
rcen
tile
Rank
9/10 6/11 3/12 12/12 9/13 6/14 6/15
Cohen & Steers Realty Shares (CSRSX)
0
25
50
75
100Tr
acki
ng Er
ror
Perc
entil
e Ra
nk9/10 6/11 3/12 12/12 9/13 6/14 6/15
Cohen & Steers Realty Shares (CSRSX) June 30, 2015
* 5 Year look back, if 5 years is not available, a since inception time period is used.3.26
Product Name : Cohen&Steers Realty Shs (CSRSX)Fund Family : Cohen & Steers Capital Management IncTicker : CSRSXPeer Group : IM Real Estate Sector (MF)Benchmark : FTSE NAREIT Equity REIT IndexFund Inception : 07/02/1991Portfolio Manager : Joseph M. HarveyTotal Assets : $6,059 MillionTotal Assets Date : 05/31/2015Total Fee : 1.12%Turnover : 52%
Mutual Fund Details Relative Performance *
Individual Portfolio Statistics - 3 Years
Style Analysis - 3 Years
3 Year Rolling Under/Over Performance * 3 Year Rolling Percentile Ranking (Return) *
Fund Objective
3 Year Rolling Percentile Ranking (Tracking Error) *
Cumulative Annualized Relative Performance Over/Under Performance
0.00
2.00
4.00
6.00
-2.00
-4.00Re
turn
(%)
7/10 1/11 7/11 1/12 7/12 1/13 7/13 1/14 7/14 1/15 6/15
Style History Jun-2015 Avg. Exposure
Qua
lity
Duration
Long Treasury
Long CreditIntermediate Credit
Intermediate Treasury
Product Name : PIMCO:Tot Rtn;Admn (PTRAX)Fund Family : PIMCOTicker : PTRAXPeer Group : IM U.S. Broad Market Core+ Fixed
The Fund seeks maximum total return, consistent withpreservation of capital and prudent investment management.The Fund seeks to achieve its investment objective by investingin a diversified portfolio of fixed income instruments. Theaverage portfolio duration normally varies within a three-to-sixyear time frame.
Return StandardDeviation
SharpeRatio Beta R-Squared Tracking
ErrorInformation
Ratio Consistency UpCapture
DownCapture
PIMCO Total Return Admin (PTRAX) 2.19 3.68 0.60 1.19 0.89 1.36 0.28 55.56 123.57 125.22Barclays Aggregate 1.83 2.91 0.62 1.00 1.00 0.00 - 0.00 100.00 100.0090 Day US Treasury Bill 0.05 0.02 - 0.00 0.01 2.91 -0.62 38.89 0.73 -0.55
Over Sep-2010 Jun-2015
0.0
5.0
10.0
15.0
PIM
CO To
tal
Re
turn
Adm
in (P
TRAX
) (%
)
0.0 5.0 10.0 15.0
Barclays Aggregate (%)
OverPerformance
UnderPerformance
PIMCO Total Return Admin (PTRAX) Barclays Aggregate
0
25
50
75
100
Retu
rn Pe
rcen
tile
Rank
9/10 6/11 3/12 12/12 9/13 6/14 6/15
PIMCO Total Return Admin (PTRAX)
0
25
50
75
100Tr
acki
ng Er
ror
Perc
entil
e Ra
nk9/10 6/11 3/12 12/12 9/13 6/14 6/15
PIMCO Total Return Admin (PTRAX) June 30, 2015
* 5 year look back, if 5 years is not available, a since inception time period is used.3.27
Income (MF)Benchmark : Barclays AggregateFund Inception : 09/08/1994Portfolio Manager : Mather/Kiesel/WorahTotal Assets : $9,142 MillionTotal Assets Date : 05/31/2015Total Fee : 0.86%Turnover : 265%
Mutual Fund Details Relative Performance *
Individual Portfolio Statistics - 3 Years
Style Analysis - 3 Years
3 Year Rolling Under/Over Performance * 3 Year Rolling Percentile Ranking (Return) *
Fund Objective
3 Year Rolling Percentile Ranking (Tracking Error) *
Cumulative Annualized Relative Performance Over/Under Performance
0.00
0.05
-0.05
-0.10
-0.15
-0.20Re
turn
(%)
7/10 1/11 7/11 1/12 7/12 1/13 7/13 1/14 7/14 1/15 6/15
Style History Jun-2015 Avg. Exposure
Qua
lity
Duration
Long Treasury
Long CreditIntermediate Credit
Intermediate Treasury
The Fund seeks to maximize current income, to the extentconsistent with the preservation of capital and liquidity and themaintenance of a stable $1.00 per share net asset value, byinvesting in dollar-denominated securities.
Return StandardDeviation
SharpeRatio Beta R-Squared Tracking
ErrorInformation
Ratio Consistency UpCapture
DownCapture
SSgA Money Market N (SSMXX) 0.00 0.00 -2.95 0.00 0.00 0.02 -2.95 16.67 7.04 -15.7090 Day US Treasury Bill 0.05 0.02 - 1.00 1.00 0.00 - 0.00 100.00 100.0090 Day US Treasury Bill 0.05 0.02 - 1.00 1.00 0.00 - 0.00 100.00 100.00
Over Under Sep-2010 Jun-2015
-0.5
0.0
0.5
1.0
1.5
2.0
SSgA
Mon
ey M
arke
t
N (S
SMXX
)
(%)
-0.5 0.0 0.5 1.0 1.5 2.0
90 Day US Treasury Bill (%)
OverPerformance
UnderPerformance
SSgA Money Market N (SSMXX) 90 Day US Treasury Bill
0
25
50
75
100
Retu
rn Pe
rcen
tile
Rank
9/10 6/11 3/12 12/12 9/13 6/14 6/15
SSgA Money Market N (SSMXX)
0
25
50
75
100Tr
acki
ng Er
ror
Perc
entil
e Ra
nk9/10 6/11 3/12 12/12 9/13 6/14 6/15
SSgA Money Market N (SSMXX) June 30, 2015
* 5 year look back, if 5 years is not available, a since inception time period is used.3.28
Product Name : SSgA:Money Mkt;N (SSMXX)Fund Family : State Street Bank and Trust CompanyTicker : SSMXXPeer Group : IM U.S. Taxable Money Market (MF)Benchmark : 90 Day US Treasury BillFund Inception : 05/02/1988Portfolio Manager : Team ManagedTotal Assets : $3,333 MillionTotal Assets Date : 06/30/2015Total Fee : 0.52%
Rolling Relative Performance Comparative Performance
Credit Quality Distribution Duration Distribution (%) Portfolio Attributes
MetLife does not provide data MetLife does not provide data
Rolling 1 Year Cumulative Over/Under Relative Performance
Over/Under Relative Performance
0.0
0.8
1.6
2.4
3.2
4.0
-0.8
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9/10 3/11 9/11 3/12 9/12 3/13 9/13 3/14 9/14 6/15
Metlife Gold Track Select (3.00%) 90 Day US Treasury Bill
0.0
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1.6
2.4
3.2
4.0
Retu
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3 Month CYTD 1 Year 3 Year 5 Year
0.0 0.0 0.0 0.1 0.1
0.7
1.5
3.0 3.0 3.0
Avg. Quality ACurrent Yield 3.00
Metlife Gold Track Select (3.00%) June 30, 2015
3.29
Historical Allocation Total Market Value of Assetsby Asset Class $905,420,803
South Carolina State ORP (TIAA-CREF)
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Historical Asset Allocation and GrowthAs of June 30, 2015
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4.3
FundExcess
Performance1Peer Universe
Rank2Information Ratio Rank3
Sharpe Ratio Rank4 Other Status Change
US Equity: Multi CapCREF Equity Index Annuity (P) - - - - Pass Good 0
US Equity: Large CapVanguard Windsor II Adm (VWNAX) Fail Pass Fail Pass - Good 1 UpPrudential Jennison Growth Z (PJFZX) Pass Pass Pass Pass - Good 1
US Equity: Non-Large CapVanguard Mid Cap Index Inst (VMCIX) (P) - - - - Pass Good 0TIAA-CREF Small Cap Index Ret (TRBIX) (P) - - - - Pass Good 0
International EquityCREF Stock Annuity Fail Pass Fail Pass - Good 0Amer Funds EuroPacific Growth R5 (RERFX) Pass Pass Pass Pass - Good 1
Balanced FundsCREF Social Choice Annuity Fail Pass Pass Pass Good 0TIAA-CREF Lifecycle Target-Date Suite - - - - Pass Good
Sector FundNeuberger Berman Real Estate I (NBRIX) Fail Fail Fail Fail - Watch List 8
Fixed IncomeDreyfus Bond Market Index Inv (DBMIX) (P) - - - - Pass Good 0CREF Inflation-Linked Bond Annuity Fail Pass Fail Pass - Good 1
Money Market/Stable ValueCREF Money Market Annuity - - - - - -TIAA Traditional Annuity - - - - Pass Good
Source: Lipper
Methodology
(P) Passive Funds
Other:
For Passive funds, Other is defined as tracking error commensurate with the asset class (domestic equity & fixed income less than or equal to .50%, International equity less than or equal to 2.00%).
For Insurance or Stable Value products, Other is defined as insurer's credit quality and competitiveness of rate of return.
For Target-Date funds, Other is defined as two out of the three one, three, and five-year peer ranks place the entire suite of funds in the top half of its applicable peer universe.
Active Funds1Fund performance exceeds the return of the independent benchmark for at least two of the most recent one, three, and five-year trailing periods. 2Fund performance places it in the top half of its applicable peer universe for at least two of the most recent one, three, and five-year trailing periods. 3Information ratio places the fund in the top half of its applicable peer universe for at least two of the most recent one, three, and five-year trailing periods. 4Sharpe ratio places the fund in the top half of its applicable peer universe for at least two of the most recent one, three, and five-year trailing periods. 5Number represents the number of quarters (consecutive or non-consecutive) the fund has been on the watch list over the previous trailing 12 quarters.
# of Quarters on Watch List for Trailing
12 Quarters5
South Carolina State ORP (TIAA-CREF)Fund MonitorAs of June 30, 2015
Primary Benchmarks Secondary Benchmarks
4.4
As of June 30, 2015
1Higher number is better2Lower number is better
South Carolina State ORP (TIAA-CREF)
5-Year Standard DeviationFund Ticker Expense Ratio
5-Year Sharpe Ratio1
Total Return Total Return Percentile Rank2
1 Year 3 Year 5 Year5 Year Lipper Peer
Group5 Year Morningstar
Peer GroupDomestic EquityCREF Equity Index Annuity N/A 0.29% 1.26 13.38% 6.97% 17.30% 17.09% 33 27Vanguard Windsor II Adm VWNAX 0.28% 1.27 12.72% 4.34% 16.26% 16.40% 20 19Prudential Jennison Growth Z PJFZX 0.75% 1.30 14.37% 14.40% 19.66% 19.03% 16 14Vanguard Mid Cap Index Instl VMCIX 0.08% 1.17 15.62% 8.66% 19.70% 18.26% 15 15TIAA-CREF Small Cap Index Ret TRBIX 0.38% 0.98 17.74% 6.55% 17.78% 16.96% 48 38International EquityCREF Stock Annuity N/A 0.37% 1.04 14.09% 3.95% 15.22% 14.47% 21 78Amer Funds EuroPacific Growth A RERFX 0.53% 0.70 15.50% 0.93% 12.65% 10.07% 18 43Balanced CREF Social Choice Annuity N/A 0.33% 1.29 7.72% 1.83% 10.00% 10.12% 28 58Target DateTIAA-CREF Lifecycle 2055 Ret TTRLX 0.71% - - 4.04% 14.22% - - -TIAA-CREF Lifecycle 2050 Ret TLFRX 0.71% 1.05 13.20% 4.00% 14.21% 13.72% 9 9TIAA-CREF Lifecycle 2045 Ret TTFRX 0.71% 1.05 13.22% 4.03% 14.23% 13.73% 10 8TIAA-CREF Lifecycle 2040 Ret TCLOX 0.71% 1.05 13.23% 4.02% 14.24% 13.76% 6 5TIAA-CREF Lifecycle 2035 Ret TCLRX 0.70% 1.04 12.98% 3.81% 13.63% 13.42% 12 10TIAA-CREF Lifecycle 2030 Ret TCLNX 0.69% 1.07 11.82% 3.58% 12.59% 12.60% 9 9TIAA-CREF Lifecycle 2025 Ret TCLFX 0.68% 1.10 10.63% 3.27% 11.47% 11.70% 16 13TIAA-CREF Lifecycle 2020 Ret TCLTX 0.66% 1.14 9.46% 3.05% 10.31% 10.80% 7 7TIAA-CREF Lifecycle 2015 Ret TCLIX 0.65% 1.18 8.29% 2.71% 9.14% 9.84% 9 7TIAA-CREF Lifecycle 2010 Ret TCLEX 0.64% 1.24 7.23% 2.43% 8.21% 9.04% 7 6TIAA-CREF Lifecycle Income Ret TLIRX 0.63% 1.33 5.96% 2.23% 7.22% 8.05% 8 5SpecialtyNeuberger Berman Real Estate I NBRIX 0.85% 0.87 14.90% 1.85% 6.39% 12.51% 82 83Fixed IncomeDreyfus Bond Market Index Inv DBMIX 0.40% 0.91 3.07% 1.48% 1.34% 2.86% 40 82CREF Inflation-Linked Bond Annuity N/A 0.315% 0.54 5.36% -2.18% -1.16% 2.85% 24 20Stable ValueCREF Money Market Annuity N/A 0.315% - - 0.00% 0.00% 0.00% 87 N/ATIAA Traditional Annuity N/A 0.55% - - 3.52% 3.40% 3.42% - -
4.5
Fund Line-Up Statistics
Asset $ Asset %Expense
Vanguard Windsor II Adm (VWNAX) 21,101,592 2.33 28 1.03 24 0.96 33 4.34 50 16.26 61 16.40 20 7.10 29Russell 1000 Value Index 0.11 -0.61 4.13 17.34 16.50 7.05Excess Return 0.92 1.57 0.21 -1.08 -0.10 0.05IM U.S. Large Cap Value Equity (MF) - - - - - - - - - - - -
Prudential Jennison Growth Z (PJFZX) 34,398,303 3.80 75 2.85 1 8.60 2 14.40 11 19.66 14 19.03 16 9.42 19Russell 1000 Growth Index 0.12 3.96 10.56 17.99 18.59 9.10Excess Return 2.73 4.64 3.84 1.67 0.44 0.32IM U.S. Large Cap Growth Equity (MF) - - - - - - - - - - - -
Domestic Equity: Non-Large Cap FundsVanguard Mid Cap Index Instl (VMCIX) 26,458,101 2.92 8 -1.16 56 3.07 50 8.66 16 19.70 17 18.26 15 9.40 18Vanguard Mid Cap Spliced Index -1.18 3.09 8.68 19.74 18.31 9.41Excess Return 0.02 -0.02 -0.02 -0.04 -0.05 -0.01IM U.S. Mid Cap Core Equity (MF) - - - - - - - - - - - -
TIAA-CREF Small Cap Index Ret (TRBIX) 13,845,948 1.53 38 0.46 22 4.79 22 6.55 25 17.78 45 16.96 48 8.23 33Russell 2000 Index 0.42 4.75 6.49 17.81 17.08 8.40Excess Return 0.04 0.04 0.06 -0.03 -0.12 -0.17IM U.S. Small Cap Core Equity (MF) - - - - - - - - - - - -
International Equity FundsCREF Stock Annuity 195,040,268 21.54 37 0.75 41 3.44 45 3.95 26 15.22 29 14.47 21 7.04 4480% Russell 3000/20% MSCI EAFE + Canada (Net) 0.22 2.44 4.72 16.44 15.83 7.61Excess Return 0.53 1.00 -0.77 -1.22 -1.36 -0.57IM Global Equity (MF) - - - - - - - - - - - -
Amer Funds EuroPacific Growth R5 (RERFX) 25,220,960 2.79 53 1.10 43 7.14 18 0.93 11 12.65 10 10.07 18 7.66 8MSCI AC World ex USA (Net) 0.53 4.03 -5.26 9.44 7.76 5.54Excess Return 0.57 3.11 6.19 3.21 2.31 2.12IM International Large Cap Equity (MF) - - - - - - - - - - - -
Balanced FundCREF Social Choice Annuity 30,356,590 3.35 33 -1.09 83 0.71 71 1.83 37 10.00 26 10.12 28 6.01 30CREF Social Choice Composite Index -0.53 1.52 3.54 10.42 10.83 6.63Excess Return -0.56 -0.81 -1.71 -0.42 -0.71 -0.62IM Mixed-Asset Target Alloc Moderate (MF) - - - - - - - - - - - -
South Carolina State ORP (TIAA-CREF)Performance Scorecard (net of fees)June 30, 2015
Performance % and Percentile Rank (Blue)
Ratio 3 Month CYTD 1 Year 3 Year 5 Year 10 YearDomestic Equity: Multi/Large Cap FundsCREF Equity Index Annuity 41,090,751 4.54 29 0.08 42 1.80 53 6.97 35 17.30 57 17.09 33 7.74 43Russell 3000 Index 0.14 1.94 7.29 17.73 17.54 8.15Excess Return -0.06 -0.14 -0.32 -0.43 -0.45 -0.41IM U.S. Multi-Cap Core Equity (MF) - - - - - - - - - - - -
4.6
Asset $ Asset %Expense
Ratio 3 Month CYTD 1 Year 3 Year 5 Year 10 Year
South Carolina State ORP (TIAA-CREF)Performance Scorecard (net of fees)June 30, 2015
Performance % and Percentile Rank (Blue)
Target-Date Retirement FundsTIAA-CREF Lifecycle 2055 Ret (TTRLX) 3,137,958 0.35 71 0.72 16 4.16 6 4.04 17 14.22 18 - -TIAA-CREF Lifecycle 2055 Index 0.09 2.37 3.33 14.07 - -Excess Return 0.63 1.79 0.71 0.15 - -IM Mixed-Asset Target 2055+ (MF) - - - - - - - - - - - -
TIAA-CREF Lifecycle 2050 Ret (TLFRX) 14,648,883 1.62 71 0.72 12 4.20 5 4.00 19 14.21 15 13.72 9 -TIAA-CREF Lifecycle 2050 Index 0.09 2.37 3.33 14.07 13.89 -Excess Return 0.63 1.83 0.67 0.14 -0.17 -IM Mixed-Asset Target 2050 (MF) - - - - - - - - - - - -
TIAA-CREF Lifecycle 2045 Ret (TTFRX) 20,987,808 2.32 71 0.72 12 4.19 5 4.03 16 14.23 11 13.73 10 -TIAA-CREF Lifecycle 2045 Index 0.09 1.80 2.76 13.86 13.77 -Excess Return 0.63 2.39 1.27 0.37 -0.04 -IM Mixed-Asset Target 2045 (MF) - - - - - - - - - - - -
TIAA-CREF Lifecycle 2040 Ret (TCLOX) 69,395,883 7.66 71 0.73 8 4.21 5 4.02 17 14.24 7 13.76 6 6.43 14TIAA-CREF Lifecycle 2040 Index 0.09 2.37 3.33 14.07 13.89 6.85Excess Return 0.64 1.84 0.69 0.17 -0.13 -0.42IM Mixed-Asset Target 2040 (MF) - - - - - - - - - - - -
TIAA-CREF Lifecycle 2035 Ret (TCLRX) 40,009,807 4.42 70 0.52 15 3.84 7 3.81 14 13.63 10 13.42 12 6.09 53TIAA-CREF Lifecycle 2035 Index -0.05 2.17 3.23 13.40 13.50 6.53Excess Return 0.57 1.67 0.58 0.23 -0.08 -0.44IM Mixed-Asset Target 2035 (MF) - - - - - - - - - - - -
TIAA-CREF Lifecycle 2030 Ret (TCLNX) 29,892,207 3.30 69 0.38 12 3.53 5 3.58 13 12.59 11 12.60 9 5.83 20TIAA-CREF Lifecycle 2030 Index -0.21 1.98 3.12 12.30 12.60 6.24Excess Return 0.59 1.55 0.46 0.29 0.00 -0.41IM Mixed-Asset Target 2030 (MF) - - - - - - - - - - - -
TIAA-CREF Lifecycle 2025 Ret (TCLFX) 19,703,795 2.18 68 0.15 14 3.18 4 3.27 11 11.47 15 11.70 16 5.75 48TIAA-CREF Lifecycle 2025 Index -0.32 1.82 2.96 11.15 11.66 6.15Excess Return 0.47 1.36 0.31 0.32 0.04 -0.40IM Mixed-Asset Target 2025 (MF) - - - - - - - - - - - -
TIAA-CREF Lifecycle 2020 Ret (TCLTX) 14,973,588 1.65 66 0.08 7 2.90 3 3.05 7 10.31 7 10.80 7 5.66 12TIAA-CREF Lifecycle 2020 Index -0.44 1.60 2.70 9.95 10.69 6.02Excess Return 0.52 1.30 0.35 0.36 0.11 -0.36IM Mixed-Asset Target 2020 (MF) - - - - - - - - - - - -
TIAA-CREF Lifecycle 2015 Ret (TCLIX) 9,613,303 1.06 65 -0.08 8 2.57 2 2.71 3 9.14 9 9.84 9 5.54 27TIAA-CREF Lifecycle 2015 Index -0.53 1.43 2.52 8.80 9.73 5.90Excess Return 0.45 1.14 0.19 0.34 0.11 -0.36IM Mixed-Asset Target 2015 (MF) - - - - - - - - - - - -
4.7
Asset $ Asset %Expense
Ratio 3 Month CYTD 1 Year 3 Year 5 Year 10 Year
South Carolina State ORP (TIAA-CREF)Performance Scorecard (net of fees)June 30, 2015
Performance % and Percentile Rank (Blue)
Target-Date Retirement Funds (cont...)TIAA-CREF Lifecycle 2010 Ret (TCLEX) 6,402,215 0.71 64 -0.23 13 2.26 2 2.43 6 8.21 4 9.04 7 5.42 12TIAA-CREF Lifecycle 2010 Index -0.60 1.30 2.33 7.87 8.90 5.72Excess Return 0.37 0.96 0.10 0.34 0.14 -0.30IM Mixed-Asset Target 2010 (MF) - - - - - - - - - - - -
TIAA-CREF Lifecycle Income Ret (TLIRX) 311,778 0.03 63 -0.36 4 2.07 1 2.23 3 7.22 6 8.05 8 -TIAA-CREF Lifecycle Income Index -0.65 1.18 2.14 7.37 8.26 -Excess Return 0.29 0.89 0.09 -0.15 -0.21 -IM Mixed-Asset Target Today (MF) - - - - - - - - - - - -
Sector FundNeuberger Berman Real Estate I (NBRIX) 24,564,597 2.71 85 -9.49 40 -6.15 70 1.85 91 6.39 94 12.51 82 7.93 9FTSE NAREIT Equity REIT Index -9.95 -5.67 4.33 8.93 14.28 7.00Excess Return 0.46 -0.48 -2.48 -2.54 -1.77 0.93IM Real Estate Sector (MF) - - - - - - - - - - - -
Fixed Income FundsDreyfus Bond Market Index Inv (DBMIX) 17,711,611 1.96 40 -1.73 100 -0.26 100 1.48 7 1.34 54 2.86 40 3.97 28Barclays Aggregate -1.68 -0.10 1.86 1.83 3.35 4.44Excess Return -0.05 -0.16 -0.38 -0.49 -0.49 -0.47IM U.S. Intermediate Investment Grade (MF) - - - - - - - - - - - -
CREF Inflation-Linked Bond Annuity 13,286,635 1.47 31.5 -1.34 70 0.08 56 -2.18 29 -1.16 48 2.85 24 3.67 39Barclays US Treasury: US TIPS -1.06 0.34 -1.73 -0.76 3.29 4.14Excess Return -0.28 -0.26 -0.45 -0.40 -0.44 -0.47IM U.S. TIPS (MF) - - - - - - - - - - - -
Money Market/Stable Value FundsCREF Money Market Annuity 20,571,260 2.27 31.5 0.00 85 0.00 85 0.00 90 0.00 87 0.00 87 1.37 3690 Day US Treasury Bill 0.01 0.02 0.03 0.05 0.07 1.38Excess Return -0.01 -0.02 -0.03 -0.05 -0.07 -0.01IM U.S. Taxable Money Market (MF) - - - - - - - - - - - -
TIAA Traditional Annuity*,** 162,443,886 17.94 55 0.91 1.75 3.52 3.40 3.42 4.1090 Day US Treasury Bill 0.01 0.02 0.03 0.05 0.07 1.38Excess Return 0.90 1.73 3.49 3.35 3.35 2.72
Terminated FundsCREF Growth 21,084,819 2.33 32 - - - - - - - - - - - -CREF Global Equities 14,317,958 1.58 37.5 - - - - - - - - - - - -CREF Bond 6,790,642 0.75 37 - - - - - - - - - - - -TIAA Real Estate 8,059,330 0.89 71 - - - - - - - - - - - -TIAA-CREF Equity Index 326 0.00 30 - - - - - - - - - - - -
TIAA CREF Total 905,420,803 100.00 50 - - - - - - - - - - - -
4.8
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TIAA-CREF Historical Crediting Rates
TIAARA & GRA Rates
TIAARC Rates
4.9
Product Details Relative Performance *
Individual Portfolio Statistics - 3 Years
Style Analysis - 3 Years
3 Year Rolling Under/Over Performance * 3 Year Rolling Percentile Ranking (Return) *
Product Objective
3 Year Rolling Percentile Ranking (Tracking Error) *
Cumulative Annualized Relative Performance Over/Under Performance
0.00
0.20
-0.20
-0.40
-0.60Re
turn
(%)
7/10 1/11 7/11 1/12 7/12 1/13 7/13 1/14 7/14 1/15 6/15
Style History Jun-2015 Avg. Exposure
Capi
taliz
atio
n
Manager Style
Large Cap Growth
Small Cap GrowthSmall Cap Value
Large Cap Value
The fund is designed to track U.S. equity markets as awhole and invests substantially all of its net assets in stocksin the Russell 3000® Index.
Return StandardDeviation
SharpeRatio Beta R-Squared Tracking
ErrorInformation
Ratio Consistency UpCapture
DownCapture
CREF Equity Index Annuity 17.30 8.56 1.91 1.00 1.00 0.03 -12.20 2.78 98.70 101.21Russell 3000 Index 17.73 8.59 1.95 1.00 1.00 0.00 - 0.00 100.00 100.0090 Day US Treasury Bill 0.05 0.02 - 0.00 0.04 8.59 -1.95 25.00 0.17 -0.23
Under Sep-2010 Jun-2015
-15.0
0.0
15.0
30.0
CREF
Equi
ty In
dex
Annu
ity (%
)
-15.0 0.0 15.0 30.0
Russell 3000 Index (%)
OverPerformance
UnderPerformance
CREF Equity Index Annuity Russell 3000 Index
0
25
50
75
100
Retu
rn Pe
rcen
tile
Rank
9/10 6/11 3/12 12/12 9/13 6/14 6/15
CREF Equity Index Annuity
0
25
50
75
100Tr
acki
ng Er
ror
Perc
entil
e Ra
nk9/10 6/11 3/12 12/12 9/13 6/14 6/15
CREF Equity Index Annuity June 30, 2015
* 5 Year look back, if 5 years is not available, a since inception time period is used.4.10
Product Name CREF Equity IndexPeer Group US Equity Multi-Cap Core Funds (MF)Benchmark Russell 3000 IndexInception 04/29/1994Total Assets $16,426 MillionTotal Assets Date 09/30/2014Gross Expense 0.29%
Net Expense 0.29%
Mutual Fund Details Relative Performance *
Individual Portfolio Statistics - 3 Years
Style Analysis - 3 Years
3 Year Rolling Under/Over Performance * 3 Year Rolling Percentile Ranking (Return) *
Fund Objective
3 Year Rolling Percentile Ranking (Tracking Error) *
Cumulative Annualized Relative Performance Over/Under Performance
0.00
2.00
4.00
-2.00
-4.00Re
turn
(%)
7/10 1/11 7/11 1/12 7/12 1/13 7/13 1/14 7/14 1/15 6/15
Style History Jun-2015 Avg. Exposure
Capi
taliz
atio
n
Manager Style
Large Cap Growth
Small Cap GrowthSmall Cap Value
Large Cap Value
Product Name : Vanguard Windsor II;Adm (VWNAX)Fund Family : Vanguard Group IncTicker : VWNAXPeer Group : IM U.S. Large Cap Value Equity (MF)Benchmark : Russell 1000 Value IndexFund Inception : 05/14/2001Portfolio Manager : Team ManagedTotal Assets : $33,441 MillionTotal Assets Date : 05/31/2015Gross Expense : 0.28%Net Expense : 0.28%Turnover : 27%
The Fund seeks long-term growth of capital and income. TheFund invests mainly in large- and mid-capitalization companieswhose stocks are considered to be undervalued. Undervaluedstocks generally trade at prices that are below average inrelation to such measures as earnings and book value.
Return StandardDeviation
SharpeRatio Beta R-Squared Tracking
ErrorInformation
Ratio Consistency UpCapture
DownCapture
Vanguard Windsor II Adm (VWNAX) 16.26 8.52 1.82 0.95 0.95 1.97 -0.49 47.22 95.36 98.31Russell 1000 Value Index 17.34 8.76 1.88 1.00 1.00 0.00 - 0.00 100.00 100.0090 Day US Treasury Bill 0.05 0.02 - 0.00 0.04 8.76 -1.88 27.78 0.15 -0.30
Over Under Sep-2010 Jun-2015
-30.0
-15.0
0.0
15.0
30.0
Vang
uard
Win
dsor
II Ad
m (V
WN
AX)
(%)
-30.0 -15.0 0.0 15.0 30.0
Russell 1000 Value Index (%)
OverPerformance
UnderPerformance
Vanguard Windsor II Adm (VWNAX) Russell 1000 Value Index
0
25
50
75
100
Retu
rn Pe
rcen
tile
Rank
9/10 6/11 3/12 12/12 9/13 6/14 6/15
Vanguard Windsor II Adm (VWNAX)
0
25
50
75
100Tr
acki
ng Er
ror
Perc
entil
e Ra
nk9/10 6/11 3/12 12/12 9/13 6/14 6/15
Vanguard Windsor II Adm (VWNAX) June 30, 2015
* 5 Year look back, if 5 years is not available, a since inception time period is used.4.11
Mutual Fund Details Relative Performance *
Individual Portfolio Statistics - 3 Years
Style Analysis - 3 Years
3 Year Rolling Under/Over Performance * 3 Year Rolling Percentile Ranking (Return) *
Fund Objective
3 Year Rolling Percentile Ranking (Tracking Error) *
Cumulative Annualized Relative Performance Over/Under Performance
0.00
2.00
4.00
-2.00
-4.00
-6.00Re
turn
(%)
7/10 1/11 7/11 1/12 7/12 1/13 7/13 1/14 7/14 1/15 6/15
Style History Jun-2015 Avg. Exposure
Capi
taliz
atio
n
Manager Style
Large Cap Growth
Small Cap GrowthSmall Cap Value
Large Cap Value
Product Name : Pru Jenn Growth;Z (PJFZX)Fund Family : Prudential InvestmentsTicker : PJFZXPeer Group : IM U.S. Large Cap Growth Equity (MF)Benchmark : Russell 1000 Growth IndexFund Inception : 04/15/1996Portfolio Manager : McCarragher/Segalas/Del BalsoTotal Assets : $1,837 MillionTotal Assets Date : 06/30/2015Gross Expense : 0.75%Net Expense : 0.75%Turnover : 38%
The Fund seeks to achieve long-term growth of capital byinvesting primarily in equity securities established companieswith above-average growth prospects.
Return StandardDeviation
SharpeRatio Beta R-Squared Tracking
ErrorInformation
Ratio Consistency UpCapture
DownCapture
Prudential Jennison Growth Z (PJFZX) 19.66 10.23 1.81 1.07 0.83 4.24 0.37 66.67 105.14 94.19Russell 1000 Growth Index 17.99 8.75 1.94 1.00 1.00 0.00 - 0.00 100.00 100.0090 Day US Treasury Bill 0.05 0.02 - 0.00 0.04 8.76 -1.94 36.11 0.14 -0.31
Over Under Sep-2010 Jun-2015
-15.0
0.0
15.0
30.0
45.0
Prud
entia
l
Jenn
ison
Gro
wth
Z (P
JFZX
) (%
)
-15.0 0.0 15.0 30.0 45.0
Russell 1000 Growth Index (%)
OverPerformance
UnderPerformance
Prudential Jennison Growth Z (PJFZX) Russell 1000 Growth Index
0
25
50
75
100
Retu
rn Pe
rcen
tile
Rank
9/10 6/11 3/12 12/12 9/13 6/14 6/15
Prudential Jennison Growth Z (PJFZX)
0
25
50
75
100Tr
acki
ng Er
ror
Perc
entil
e Ra
nk9/10 6/11 3/12 12/12 9/13 6/14 6/15
Prudential Jennison Growth Z (PJFZX) June 30, 2015
* 5 Year look back, if 5 years is not available, a since inception time period is used.4.12
Mutual Fund Details Relative Performance *
Individual Portfolio Statistics - 3 Years
Style Analysis - 3 Years
3 Year Rolling Under/Over Performance * 3 Yr Rolling Percentile Ranking (Return) *
Fund Objective
3 Year Rolling Percentile Ranking (Tracking Error) *
Cumulative Annualized Relative Performance Over/Under Performance
0.00
0.04
0.08
-0.04
-0.08
-0.12Re
turn
(%)
7/10 1/11 7/11 1/12 7/12 1/13 7/13 1/14 7/14 1/15 6/15
Style History Jun-2015 Avg. Exposure
Capi
taliz
atio
n
Manager Style
Large Cap Growth
Small Cap GrowthSmall Cap Value
Large Cap Value
Product Name : Vanguard Md-Cp Idx;Inst (VMCIX)Fund Family : Vanguard Group IncTicker : VMCIXPeer Group : IM U.S. Mid Cap Core Equity (MF)Benchmark : Vanguard Mid Cap Spliced IndexFund Inception : 05/20/1998Portfolio Manager : Donald M. ButlerTotal Assets : $12,661 MillionTotal Assets Date : 05/31/2015Gross Expense : 0.08%Net Expense : 0.08%Turnover : 11%
Return StandardDeviation
SharpeRatio Beta R-Squared Tracking
ErrorInformation
Ratio Consistency UpCapture
DownCapture
Vanguard Mid Cap Index Inst (VMCIX) 19.70 9.20 2.01 1.00 1.00 0.06 -0.59 41.67 99.83 99.94Vanguard Mid Cap Spliced Index 19.74 9.20 2.01 1.00 1.00 0.00 - 0.00 100.00 100.0090 Day US Treasury Bill 0.05 0.02 - 0.00 0.03 9.21 -2.01 30.56 0.13 -0.34
Over Under Sep-2010 Jun-2015
-15.0
0.0
15.0
30.0
45.0
Vang
uard
Mid
Cap
Inde
x In
st (V
MCI
X) (%
)
-15.0 0.0 15.0 30.0 45.0
Vanguard Mid Cap Spliced Index (%)
OverPerformance
UnderPerformance
Vanguard Mid Cap Index Inst (VMCIX) Vanguard Mid Cap Spliced Index
0
25
50
75
100
Retu
rn Pe
rcen
tile
Rank
9/10 6/11 3/12 12/12 9/13 6/14 6/15
Vanguard Mid Cap Index Inst (VMCIX)
0
25
50
75
100
Trac
king
Erro
r Pe
rcen
tile
Rank
9/10 6/11 3/12 12/12 9/13 6/14 6/15
Vanguard Mid Cap Index Inst (VMCIX) June 30, 2015
* 5 Year look back, if 5 years is not available, a since inception time period is used.
4.13
The Fund seeks to track the performance of a benchmark indexthat measures the investment return of mid-capitalizationstocks. The Fund employs a "passive management" approachdesigned to track the performance of the CRSP US Mid CapIndex, a broadly diversified index of stocks of medium-size U.S.companies.
Mutual Fund Details Relative Performance *
Individual Portfolio Statistics - 3 Years
Style Analysis - 3 Years
3 Year Rolling Under/Over Performance * 3 Yr Rolling Percentile Ranking (Return) *
Fund Objective
3 Year Rolling Percentile Ranking (Tracking Error) *
Cumulative Annualized Relative Performance Over/Under Performance
0.00
0.20
0.40
-0.20
-0.40
-0.60Re
turn
(%)
7/10 1/11 7/11 1/12 7/12 1/13 7/13 1/14 7/14 1/15 6/15
Style History Jun-2015 Avg. Exposure
Capi
taliz
atio
n
Manager Style
Large Cap Growth
Small Cap GrowthSmall Cap Value
Large Cap Value
Product Name : TIAA-CREF:SCB Idx;Ret (TRBIX)Fund Family : TIAA-CREFTicker : TRBIXPeer Group : IM U.S. Small Cap Core Equity (MF)Benchmark : Russell 2000 IndexFund Inception : 10/01/2002Portfolio Manager : Campagna/LiaoTotal Assets : $474 MillionTotal Assets Date : 06/30/2015Gross Expense : 0.38%Net Expense : 0.38%Turnover : 24%
The Fund seeks a favorable long-term total return. Undernormal circumstances, the Fund invests at least 80% of itsassets (net assets, plus the amount of any borrowings forinvestment purposes) in securities of its benchmark index (theRussell 2000 Index) and in small-cap securities.
Return StandardDeviation
SharpeRatio Beta R-Squared Tracking
ErrorInformation
Ratio Consistency UpCapture
DownCapture
TIAA-CREF Small Cap Index Ret (TRBIX) 17.78 12.26 1.40 0.99 1.00 0.13 -0.28 52.78 99.67 99.49Russell 2000 Index 17.81 12.33 1.40 1.00 1.00 0.00 - 0.00 100.00 100.0090 Day US Treasury Bill 0.05 0.02 - 0.00 0.03 12.33 -1.40 33.33 0.10 -0.23
Under Sep-2010 Jun-2015
-15.0
0.0
15.0
30.0
45.0
TIAA
-CRE
F Sm
all
Ca
p In
dex
Ret
(TRB
IX)
(%)
-15.0 0.0 15.0 30.0 45.0
Russell 2000 Index (%)
OverPerformance
UnderPerformance
TIAA-CREF Small Cap Index Ret (TRBIX) Russell 2000 Index
0
25
50
75
100
Retu
rn Pe
rcen
tile
Rank
9/10 6/11 3/12 12/12 9/13 6/14 6/15
TIAA-CREF Small Cap Index Ret (TRBIX)
0
25
50
75
100
Trac
king
Erro
r Pe
rcen
tile
Rank
9/10 6/11 3/12 12/12 9/13 6/14 6/15
TIAA-CREF Small Cap Index Ret (TRBIX) June 30, 2015
* 5 Year look back, if 5 years is not available, a since inception time period is used.
4.14
Product Details Relative Performance *
Individual Portfolio Statistics - 3 Years
Style Analysis - 3 Years
3 Year Rolling Under/Over Performance * 3 Year Rolling Percentile Ranking (Return) *
Product Objective
3 Year Rolling Percentile Ranking (Tracking Error) *
Cumulative Annualized Relative Performance Over/Under Performance
0.00
0.87
1.74
2.61
-0.87
-1.74
-2.61Re
turn
(%)
7/10 1/11 7/11 1/12 7/12 1/13 7/13 1/14 7/14 1/15 6/15
Style History Jun-2015 Avg. Exposure
Capi
taliz
atio
n
Manager Style
Large Cap Growth
Small Cap GrowthSmall Cap Value
Large Cap Value
This variable annuity account seeks a favorable long-termrate of return through capital appreciation and investmentincome by investing primarily in a broadly diversifiedportfolio of common stocks.
Return StandardDeviation
SharpeRatio Beta R-Squared Tracking
ErrorInformation
Ratio Consistency UpCapture
DownCapture
CREF Stock Annuity 15.22 8.51 1.71 1.00 0.98 1.05 -1.01 30.56 96.52 104.5080% Russell 3000/20% MSCI EAFE + Canada (Net) 16.44 8.45 1.85 1.00 1.00 0.00 - 0.00 100.00 100.0090 Day US Treasury Bill 0.05 0.02 - 0.00 0.03 8.45 -1.85 27.78 0.18 -0.22
Over Under Sep-2010 Jun-2015
-15.0
0.0
15.0
30.0
CREF
Stoc
k An
nuity
(%)
-15.0 0.0 15.0 30.0
80% Russell 3000/20% MSCI EAFE + Canada (Net) (%)
OverPerformance
UnderPerformance
CREF Stock Annuity
80% Russell 3000/20% MSCI EAFE + Canada (Net)
0
25
50
75
100
Retu
rn Pe
rcen
tile
Rank
9/10 6/11 3/12 12/12 9/13 6/14 6/15
CREF Stock Annuity
0
25
50
75
100Tr
acki
ng Er
ror
Perc
entil
e Ra
nk9/10 6/11 3/12 12/12 9/13 6/14 6/15
CREF Stock Annuity June 30, 2015
* 5 Year look back, if 5 years is not available, a since inception time period is used.4.15
Product Name CREF Stock AccountPeer Group Global Equity All (MF)Benchmark 80% Russell 3000/20% MSCI EAFE + Canada (Net)Inception 08/01/1952Total Assets $124,504 MillionTotal Assets Date 09/30/2014Gross Expense 0.37%
Net Expense 0.37%
Mutual Fund Details Relative Performance *
Individual Portfolio Statistics - 3 Years
Style Analysis - 3 Years
3 Year Rolling Under/Over Performance * 3 Yr Rolling Percentile Ranking (Return) *
Fund Objective
3 Year Rolling Percentile Ranking (Tracking Error) *
Cumulative Annualized Relative Performance Over/Under Performance
0.00
2.00
4.00
6.00
-2.00
-4.00Re
turn
(%)
7/10 1/11 7/11 1/12 7/12 1/13 7/13 1/14 7/14 1/15 6/15
Style History Jun-2015 Avg. Exposure
Capi
taliz
atio
n
Manager Style
MSCI EAFE Growth Index
MSCI EAFE Small Cap GrowthMSCI EAFE Small Cap Value
MSCI EAFE Value Index
Product Name : American Funds EuPc;R-5 (RERFX)Fund Family : American FundsTicker : RERFXPeer Group : IM International Large Cap Equity (MF)Benchmark : MSCI AC World ex USA (Net)Fund Inception : 05/15/2002Portfolio Manager : Team ManagedTotal Assets : $11,229 MillionTotal Assets Date : 06/30/2015Gross Expense : 0.53%Net Expense : 0.53%Turnover : 28%
The Fund seeks to provide long-term growth of capital byinvesting in companies based outside the United States. TheFund Invests in companies based chiefly in Europe and thePacific Basin, ranging from small firms to large corporations.
Return StandardDeviation
SharpeRatio Beta R-Squared Tracking
ErrorInformation
Ratio Consistency UpCapture
DownCapture
Amer Funds EuroPacific Growth R5 (RERFX) 12.65 9.08 1.36 0.84 0.89 3.45 0.81 50.00 97.16 66.52MSCI AC World ex USA (Net) 9.44 10.21 0.93 1.00 1.00 0.00 - 0.00 100.00 100.0090 Day US Treasury Bill 0.05 0.02 - 0.00 0.00 10.21 -0.93 36.11 0.20 -0.15
Over Under Sep-2010 Jun-2015
-20.0
-10.0
0.0
10.0
20.0
30.0
mer
Fund
s Eu
roPa
cific
Gro
wth
R5 (R
ERFX
) (%
-20.0 -10.0 0.0 10.0 20.0 30.0
MSCI AC World ex USA (Net) (%)
OverPerformance
UnderPerformance
Amer Funds EuroPacific Growth R5 (RERFX)
MSCI AC World ex USA (Net)
0
25
50
75
100
Retu
rn Pe
rcen
tile
Rank
9/10 6/11 3/12 12/12 9/13 6/14 6/15
Amer Funds EuroPacific Growth R5 (RERFX)
0
25
50
75
100Tr
acki
ng Er
ror
Perc
entil
e Ra
nk9/10 6/11 3/12 12/12 9/13 6/14 6/15
Amer Funds EuroPacific Growth R5 (RERFX) June 30, 2015
* 5 Year look back, if 5 years is not available, a since inception time period is used.4.16
Product Details Relative Performance *
Individual Portfolio Statistics - 3 Years
3 Year Rolling Under/Over Performance * 3 Year Rolling Percentile Ranking (Return) *
Product Objective
3 Year Rolling Percentile Ranking (Tracking Error) *
Cumulative Annualized Relative Performance Over/Under Performance
0.00
0.63
1.26
1.89
-0.63
-1.26
-1.89Re
turn
(%)
7/10 10/10 1/11 4/11 7/11 10/11 1/12 4/12 7/12 10/12 1/13 4/13 7/13 10/13 1/14 4/14 7/14 10/14 1/15 4/15 6/15
This variable annuity account seeks a favorable long-termrate of return that reflects the investment performance ofthe financial markets while giving special consideration tocertain social criteria.
Return StandardDeviation
SharpeRatio Beta R-Squared Tracking
ErrorInformation
Ratio Consistency UpCapture
DownCapture
CREF Social Choice Annuity 10.00 5.31 1.82 1.01 0.98 0.68 -0.55 41.67 98.56 104.52CREF Social Choice Composite Index 10.42 5.23 1.92 1.00 1.00 0.00 - 0.00 100.00 100.0090 Day US Treasury Bill 0.05 0.02 - 0.00 0.02 5.23 -1.92 27.78 0.28 -0.38
Over Under Sep-2010 Jun-2015
-6.0
0.0
6.0
12.0
18.0
24.0
CREF
Soci
al Ch
oice
Annu
ity (%
)
-6.0 0.0 6.0 12.0 18.0 24.0
CREF Social Choice Composite Index (%)
OverPerformance
UnderPerformance
CREF Social Choice Annuity CREF Social Choice Composite Index
0
25
50
75
100
Retu
rn Pe
rcen
tile
Rank
9/10 6/11 3/12 12/12 9/13 6/14 6/15
CREF Social Choice Annuity
0
25
50
75
100Tr
acki
ng Er
ror
Perc
entil
e Ra
nk9/10 6/11 3/12 12/12 9/13 6/14 6/15
CREF Social Choice Annuity June 30, 2015
* 5 Year look back, if 5 years is not available, a since inception time period is used.4.17
Product Name CREF Social Choice AccountPeer Group Mixed-Asset Target Alloc Moderate Funds (MF)Benchmark CREF Social Choice Composite IndexInception 03/01/1990Total Assets $14,167 MillionTotal Assets Date 09/30/2014Gross Expense 0.33%
Net Expense 0.33%
Mutual Fund Details Relative Performance *
Individual Portfolio Statistics - 3 Years
Top Ten Holdings
3 Year Rolling Under/Over Performance * 3 Year Rolling Percentile Ranking (Return) *
Fund Objective
3 Year Rolling Percentile Ranking (Tracking Error) *
Cumulative Annualized Relative Performance Over/Under Performance
0.00
2.00
-2.00
-4.00Re
turn
(%)
5/11 11/11 5/12 11/12 5/13 11/13 5/14 11/14 6/15
Product Name : TIAA-CREF:Lfcy 2055;Ret (TTRLX)Fund Family : TIAA-CREFTicker : TTRLXPeer Group : IM Mixed-Asset Target 2050 (MF)Benchmark : TIAA-CREF Lifecycle 2055 IndexFund Inception : 04/29/2011Portfolio Manager : Erickson/CunniffTotal Assets : $56 MillionTotal Assets Date : 06/30/2015Gross Expense : 1.08%Net Expense : 0.71%Turnover : 10%
TIAA-CREF Large-Cap Growth Fund;Institutional 11.81 %TIAA-CREF Enhanced Large-Cap Growth Index;Inst 11.67 %TIAA-CREF Large-Cap Value Fund;Institutional 11.01 %TIAA-CREF Enhanced Large-Cap Value Index;Inst 10.85 %TIAA-CREF Growth & Income Fund;Institutional 9.69 %TIAA-CREF International Equity Fund;Institutional 8.00 %TIAA-CREF Enhanced International Equity Index;Inst 7.36 %TIAA-CREF International Opportunities Fund;Inst 6.92 %TIAA-CREF Emerging Markets Equity Fund;Inst 5.20 %TIAA-CREF High-Yield Fund;Institutional 4.90 %
The Fund seeks high total return over time through acombination of capital appreciation and income. The Fundexpects to allocate approximately 90% of its assets to equityUnderlying Funds and 10% of its assets to fixed-incomeUnderlying Funds.
Return StandardDeviation
SharpeRatio Beta R-Squared Tracking
ErrorInformation
Ratio Consistency UpCapture
DownCapture
TIAA-CREF Lifecycle 2055 Ret (TTRLX) 14.22 8.09 1.69 1.05 0.97 1.36 0.13 55.56 101.91 103.24TIAA-CREF Lifecycle 2055 Index 14.07 7.59 1.77 1.00 1.00 0.00 - 0.00 100.00 100.0090 Day US Treasury Bill 0.05 0.02 - 0.00 0.02 7.59 -1.77 27.78 0.20 -0.24
Under Jun-2014 Jun-2015
9.0
12.0
15.0
18.0
21.0
TIAA
-CRE
F Li
fecy
cle
2055
Ret
(T
TRLX
) (%
)
9.0 12.0 15.0 18.0 21.0
TIAA-CREF Lifecycle 2055 Index (%)
OverPerformance
UnderPerformance
TIAA-CREF Lifecycle 2055 Ret (TTRLX) TIAA-CREF Lifecycle 2055 Index
0
25
50
75
100
Retu
rn Pe
rcen
tile
Rank
9/10 6/11 3/12 12/12 9/13 6/14 6/15
TIAA-CREF Lifecycle 2055 Ret (TTRLX)
0
25
50
75
100Tr
acki
ng Er
ror
Perc
entil
e Ra
nk9/10 6/11 3/12 12/12 9/13 6/14 6/15
TIAA-CREF Lifecycle 2055 Ret (TTRLX) June 30, 2015
* 5 Year look back, if 5 years is not available, a since inception time period is used.
4.18
Mutual Fund Details Relative Performance *
Individual Portfolio Statistics - 3 Years
Top Ten Holdings
3 Year Rolling Under/Over Performance * 3 Year Rolling Percentile Ranking (Return) *
Fund Objective
3 Year Rolling Percentile Ranking (Tracking Error) *
Cumulative Annualized Relative Performance Over/Under Performance
0.00
0.79
1.58
2.37
-0.79
-1.58
-2.37Re
turn
(%)
7/10 1/11 7/11 1/12 7/12 1/13 7/13 1/14 7/14 1/15 6/15
Product Name : TIAA-CREF:Lfcy 2050;Ret (TLFRX)Fund Family : TIAA-CREFTicker : TLFRXPeer Group : IM Mixed-Asset Target 2050 (MF)Benchmark : TIAA-CREF Lifecycle 2050 IndexFund Inception : 11/30/2007Portfolio Manager : Erickson/CunniffTotal Assets : $233 MillionTotal Assets Date : 06/30/2015Gross Expense : 0.91%Net Expense : 0.71%Turnover : 6%
TIAA-CREF Large-Cap Growth Fund;Institutional 11.88 %TIAA-CREF Enhanced Large-Cap Growth Index;Inst 11.73 %TIAA-CREF Large-Cap Value Fund;Institutional 11.07 %TIAA-CREF Enhanced Large-Cap Value Index;Inst 10.90 %TIAA-CREF Growth & Income Fund;Institutional 9.74 %TIAA-CREF International Equity Fund;Institutional 8.05 %TIAA-CREF Enhanced International Equity Index;Inst 7.40 %TIAA-CREF International Opportunities Fund;Inst 6.96 %TIAA-CREF Emerging Markets Equity Fund;Inst 5.21 %TIAA-CREF High-Yield Fund;Institutional 4.91 %
The Fund seeks high total return over time through acombination of capital appreciation and income. The Fundseeks to allocate approximately 90% of its assets to equityUnderlying Funds and 10% of its assets to fixed-incomeUnderlying Funds.
Return StandardDeviation
SharpeRatio Beta R-Squared Tracking
ErrorInformation
Ratio Consistency UpCapture
DownCapture
TIAA-CREF Lifecycle 2050 Ret (TLFRX) 14.21 8.11 1.68 1.06 0.97 1.38 0.12 55.56 102.00 103.76TIAA-CREF Lifecycle 2050 Index 14.07 7.59 1.77 1.00 1.00 0.00 - 0.00 100.00 100.0090 Day US Treasury Bill 0.05 0.02 - 0.00 0.02 7.59 -1.77 27.78 0.20 -0.24
Under Dec-2010 Jun-2015
-10.0
0.0
10.0
20.0
30.0
TIAA
-CRE
F Li
fecy
cle
2050
Ret
(T
LFRX
) (%
)
-10.0 0.0 10.0 20.0 30.0
TIAA-CREF Lifecycle 2050 Index (%)
OverPerformance
UnderPerformance
TIAA-CREF Lifecycle 2050 Ret (TLFRX) TIAA-CREF Lifecycle 2050 Index
0
25
50
75
100
Retu
rn Pe
rcen
tile
Rank
9/10 6/11 3/12 12/12 9/13 6/14 6/15
TIAA-CREF Lifecycle 2050 Ret (TLFRX)
0
25
50
75
100Tr
acki
ng Er
ror
Perc
entil
e Ra
nk9/10 6/11 3/12 12/12 9/13 6/14 6/15
TIAA-CREF Lifecycle 2050 Ret (TLFRX) June 30, 2015
* 5 Year look back, if 5 years is not available, a since inception time period is used.4.19
Mutual Fund Details Relative Performance *
Individual Portfolio Statistics - 3 Years
Top Ten Holdings
3 Year Rolling Under/Over Performance * 3 Year Rolling Percentile Ranking (Return) *
Fund Objective
3 Year Rolling Percentile Ranking (Tracking Error) *
Cumulative Annualized Relative Performance Over/Under Performance
0.00
0.79
1.58
2.37
-0.79
-1.58
-2.37Re
turn
(%)
7/10 1/11 7/11 1/12 7/12 1/13 7/13 1/14 7/14 1/15 6/15
Product Name : TIAA-CREF:Lfcy 2045;Ret (TTFRX)Fund Family : TIAA-CREFTicker : TTFRXPeer Group : IM Mixed-Asset Target 2045 (MF)Benchmark : TIAA-CREF Lifecycle 2045 IndexFund Inception : 11/30/2007Portfolio Manager : Erickson/CunniffTotal Assets : $390 MillionTotal Assets Date : 06/30/2015Gross Expense : 0.90%Net Expense : 0.71%Turnover : 6%
TIAA-CREF Large-Cap Growth Fund;Institutional 11.87 %TIAA-CREF Enhanced Large-Cap Growth Index;Inst 11.72 %TIAA-CREF Large-Cap Value Fund;Institutional 11.07 %TIAA-CREF Enhanced Large-Cap Value Index;Inst 10.90 %TIAA-CREF Growth & Income Fund;Institutional 9.73 %TIAA-CREF International Equity Fund;Institutional 8.05 %TIAA-CREF Enhanced International Equity Index;Inst 7.40 %TIAA-CREF International Opportunities Fund;Inst 6.96 %TIAA-CREF Emerging Markets Equity Fund;Inst 5.19 %TIAA-CREF High-Yield Fund;Institutional 4.92 %
The Fund seeks high total return over time through acombination of capital appreciation and income. The Fundseeks to allocate approximately 90% of its assets to equityUnderlying Funds and 10% of its assets to fixed-incomeUnderlying Funds.
Return StandardDeviation
SharpeRatio Beta R-Squared Tracking
ErrorInformation
Ratio Consistency UpCapture
DownCapture
TIAA-CREF Lifecycle 2045 Ret (TTFRX) 14.23 8.10 1.68 1.04 0.97 1.45 0.25 55.56 101.90 100.07TIAA-CREF Lifecycle 2045 Index 13.86 7.65 1.74 1.00 1.00 0.00 - 0.00 100.00 100.0090 Day US Treasury Bill 0.05 0.02 - 0.00 0.02 7.65 -1.74 27.78 0.20 -0.23
Under Dec-2010 Jun-2015
-10.0
0.0
10.0
20.0
30.0
TIAA
-CRE
F Li
fecy
cle
2045
Ret
(T
TFRX
) (%
)
-10.0 0.0 10.0 20.0 30.0
TIAA-CREF Lifecycle 2045 Index (%)
OverPerformance
UnderPerformance
TIAA-CREF Lifecycle 2045 Ret (TTFRX) TIAA-CREF Lifecycle 2045 Index
0
25
50
75
100
Retu
rn Pe
rcen
tile
Rank
9/10 6/11 3/12 12/12 9/13 6/14 6/15
TIAA-CREF Lifecycle 2045 Ret (TTFRX)
0
25
50
75
100Tr
acki
ng Er
ror
Perc
entil
e Ra
nk9/10 6/11 3/12 12/12 9/13 6/14 6/15
TIAA-CREF Lifecycle 2045 Ret (TTFRX) June 30, 2015
* 5 Year look back, if 5 years is not available, a since inception time period is used.4.20
Mutual Fund Details Relative Performance *
Individual Portfolio Statistics - 3 Years
Top Ten Holdings
3 Year Rolling Under/Over Performance * 3 Year Rolling Percentile Ranking (Return) *
Fund Objective
3 Year Rolling Percentile Ranking (Tracking Error) *
Cumulative Annualized Relative Performance Over/Under Performance
0.00
0.80
1.60
2.40
-0.80
-1.60
-2.40Re
turn
(%)
7/10 1/11 7/11 1/12 7/12 1/13 7/13 1/14 7/14 1/15 6/15
Product Name : TIAA-CREF:Lfcy 2040;Ret (TCLOX)Fund Family : TIAA-CREFTicker : TCLOXPeer Group : IM Mixed-Asset Target 2040 (MF)Benchmark : TIAA-CREF Lifecycle 2040 IndexFund Inception : 10/15/2004Portfolio Manager : Erickson/CunniffTotal Assets : $1,092 MillionTotal Assets Date : 06/30/2015Gross Expense : 0.88%Net Expense : 0.71%Turnover : 9%
TIAA-CREF Large-Cap Growth Fund;Institutional 11.87 %TIAA-CREF Enhanced Large-Cap Growth Index;Inst 11.71 %TIAA-CREF Large-Cap Value Fund;Institutional 11.08 %TIAA-CREF Enhanced Large-Cap Value Index;Inst 10.89 %TIAA-CREF Growth & Income Fund;Institutional 9.74 %TIAA-CREF International Equity Fund;Institutional 8.03 %TIAA-CREF Enhanced International Equity Index;Inst 7.41 %TIAA-CREF International Opportunities Fund;Inst 6.96 %TIAA-CREF Emerging Markets Equity Fund;Inst 5.16 %TIAA-CREF High-Yield Fund;Institutional 4.92 %
The Fund seeks high total return over time through acombination of capital appreciation and income by investing inUnderlying Funds according to an asset allocation strategydesigned for investors planning to retire in or within a fewyears of 2040.
Return StandardDeviation
SharpeRatio Beta R-Squared Tracking
ErrorInformation
Ratio Consistency UpCapture
DownCapture
TIAA-CREF Lifecycle 2040 Ret (TCLOX) 14.24 8.13 1.68 1.06 0.97 1.41 0.14 55.56 102.08 103.47TIAA-CREF Lifecycle 2040 Index 14.07 7.59 1.77 1.00 1.00 0.00 - 0.00 100.00 100.0090 Day US Treasury Bill 0.05 0.02 - 0.00 0.02 7.59 -1.77 27.78 0.20 -0.24
Over Under Sep-2010 Jun-2015
-20.0
-10.0
0.0
10.0
20.0
30.0
TIAA
-CRE
F Li
fecy
cle
2040
Ret
(TCL
OX)
(%)
-20.0 -10.0 0.0 10.0 20.0 30.0
TIAA-CREF Lifecycle 2040 Index (%)
OverPerformance
UnderPerformance
TIAA-CREF Lifecycle 2040 Ret (TCLOX) TIAA-CREF Lifecycle 2040 Index
0
25
50
75
100
Retu
rn Pe
rcen
tile
Rank
9/10 6/11 3/12 12/12 9/13 6/14 6/15
TIAA-CREF Lifecycle 2040 Ret (TCLOX)
0
25
50
75
100Tr
acki
ng Er
ror
Perc
entil
e Ra
nk9/10 6/11 3/12 12/12 9/13 6/14 6/15
TIAA-CREF Lifecycle 2040 Ret (TCLOX) June 30, 2015
* 5 Year look back, if 5 years is not available, a since inception time period is used.4.21
Mutual Fund Details Relative Performance *
Individual Portfolio Statistics - 3 Years
Top Ten Holdings
3 Year Rolling Under/Over Performance * 3 Year Rolling Percentile Ranking (Return) *
Fund Objective
3 Year Rolling Percentile Ranking (Tracking Error) *
Cumulative Annualized Relative Performance Over/Under Performance
0.00
0.84
1.68
2.52
-0.84
-1.68
-2.52Re
turn
(%)
7/10 1/11 7/11 1/12 7/12 1/13 7/13 1/14 7/14 1/15 6/15
Product Name : TIAA-CREF:Lfcy 2035;Ret (TCLRX)Fund Family : TIAA-CREFTicker : TCLRXPeer Group : IM Mixed-Asset Target 2035 (MF)Benchmark : TIAA-CREF Lifecycle 2035 IndexFund Inception : 10/15/2004Portfolio Manager : Erickson/CunniffTotal Assets : $854 MillionTotal Assets Date : 06/30/2015Gross Expense : 0.88%Net Expense : 0.70%Turnover : 10%
TIAA-CREF Large-Cap Growth Fund;Institutional 10.89 %TIAA-CREF Enhanced Large-Cap Growth Index;Inst 10.67 %TIAA-CREF Large-Cap Value Fund;Institutional 10.16 %TIAA-CREF Enhanced Large-Cap Value Index;Inst 9.92 %TIAA-CREF Growth & Income Fund;Institutional 8.93 %TIAA-CREF International Equity Fund;Institutional 7.33 %TIAA-CREF Enhanced International Equity Index;Inst 6.79 %TIAA-CREF International Opportunities Fund;Inst 6.39 %TIAA-CREF Bond Plus Fund;Institutional 5.84 %TIAA-CREF Bond Fund;Institutional 5.67 %
The Fund seeks high total return over time through acombination of capital appreciation and income by investing inUnderlying Funds according to an asset allocation strategydesigned for investors planning to retire in or within a fewyears of 2040.
Return StandardDeviation
SharpeRatio Beta R-Squared Tracking
ErrorInformation
Ratio Consistency UpCapture
DownCapture
TIAA-CREF Lifecycle 2035 Ret (TCLRX) 13.63 7.69 1.70 1.06 0.97 1.32 0.19 55.56 102.67 104.41TIAA-CREF Lifecycle 2035 Index 13.40 7.13 1.80 1.00 1.00 0.00 - 0.00 100.00 100.0090 Day US Treasury Bill 0.05 0.02 - 0.00 0.02 7.13 -1.80 27.78 0.21 -0.26
Over Under Sep-2010 Jun-2015
-20.0
-10.0
0.0
10.0
20.0
30.0
TIAA
-CRE
F Li
fecy
cle
2035
Ret
(TCL
RX)
(%)
-20.0 -10.0 0.0 10.0 20.0 30.0
TIAA-CREF Lifecycle 2035 Index (%)
OverPerformance
UnderPerformance
TIAA-CREF Lifecycle 2035 Ret (TCLRX) TIAA-CREF Lifecycle 2035 Index
0
25
50
75
100
Retu
rn Pe
rcen
tile
Rank
9/10 6/11 3/12 12/12 9/13 6/14 6/15
TIAA-CREF Lifecycle 2035 Ret (TCLRX)
0
25
50
75
100Tr
acki
ng Er
ror
Perc
entil
e Ra
nk9/10 6/11 3/12 12/12 9/13 6/14 6/15
TIAA-CREF Lifecycle 2035 Ret (TCLRX) June 30, 2015
* 5 Year look back, if 5 years is not available, a since inception time period is used.4.22
Mutual Fund Details Relative Performance *
Individual Portfolio Statistics - 3 Years
Top Ten Holdings
3 Year Rolling Under/Over Performance * 3 Year Rolling Percentile Ranking (Return) *
Fund Objective
3 Year Rolling Percentile Ranking (Tracking Error) *
Cumulative Annualized Relative Performance Over/Under Performance
0.00
0.72
1.44
2.16
-0.72
-1.44
-2.16Re
turn
(%)
7/10 1/11 7/11 1/12 7/12 1/13 7/13 1/14 7/14 1/15 6/15
Product Name : TIAA-CREF:Lfcy 2030;Ret (TCLNX)Fund Family : TIAA-CREFTicker : TCLNXPeer Group : IM Mixed-Asset Target 2030 (MF)Benchmark : TIAA-CREF Lifecycle 2030 IndexFund Inception : 10/15/2004Portfolio Manager : Erickson/CunniffTotal Assets : $899 MillionTotal Assets Date : 06/30/2015Gross Expense : 0.87%Net Expense : 0.69%Turnover : 11%
TIAA-CREF Bond Fund;Institutional 9.84 %TIAA-CREF Large-Cap Growth Fund;Institutional 9.84 %TIAA-CREF Bond Plus Fund;Institutional 9.61 %TIAA-CREF Enhanced Large-Cap Growth Index;Inst 9.59 %TIAA-CREF Large-Cap Value Fund;Institutional 9.18 %TIAA-CREF Enhanced Large-Cap Value Index;Inst 8.91 %TIAA-CREF Growth & Income Fund;Institutional 8.08 %TIAA-CREF International Equity Fund;Institutional 6.72 %TIAA-CREF Enhanced International Equity Index;Inst 6.12 %TIAA-CREF International Opportunities Fund;Inst 5.78 %
The Fund seeks high total return over time through acombination of capital appreciation and income by investing inUnderlying Funds according to an asset allocation strategydesigned for investors planning to retire in or within a fewyears of 2040.
Return StandardDeviation
SharpeRatio Beta R-Squared Tracking
ErrorInformation
Ratio Consistency UpCapture
DownCapture
TIAA-CREF Lifecycle 2030 Ret (TCLNX) 12.59 7.05 1.72 1.07 0.98 1.21 0.25 55.56 103.54 105.86TIAA-CREF Lifecycle 2030 Index 12.30 6.49 1.82 1.00 1.00 0.00 - 0.00 100.00 100.0090 Day US Treasury Bill 0.05 0.02 - 0.00 0.02 6.49 -1.82 27.78 0.23 -0.29
Over Under Sep-2010 Jun-2015
-20.0
-10.0
0.0
10.0
20.0
30.0
TIAA
-CRE
F Li
fecy
cle
2030
Ret
(TCL
NX)
(%)
-20.0 -10.0 0.0 10.0 20.0 30.0
TIAA-CREF Lifecycle 2030 Index (%)
OverPerformance
UnderPerformance
TIAA-CREF Lifecycle 2030 Ret (TCLNX) TIAA-CREF Lifecycle 2030 Index
0
25
50
75
100
Retu
rn Pe
rcen
tile
Rank
9/10 6/11 3/12 12/12 9/13 6/14 6/15
TIAA-CREF Lifecycle 2030 Ret (TCLNX)
0
25
50
75
100Tr
acki
ng Er
ror
Perc
entil
e Ra
nk9/10 6/11 3/12 12/12 9/13 6/14 6/15
TIAA-CREF Lifecycle 2030 Ret (TCLNX) June 30, 2015
* 5 Year look back, if 5 years is not available, a since inception time period is used.4.23
Mutual Fund Details Relative Performance *
Individual Portfolio Statistics - 3 Years
Top Ten Holdings
3 Year Rolling Under/Over Performance * 3 Year Rolling Percentile Ranking (Return) *
Fund Objective
3 Year Rolling Percentile Ranking (Tracking Error) *
Cumulative Annualized Relative Performance Over/Under Performance
0.00
0.69
1.38
2.07
-0.69
-1.38
-2.07Re
turn
(%)
7/10 1/11 7/11 1/12 7/12 1/13 7/13 1/14 7/14 1/15 6/15
Product Name : TIAA-CREF:Lfcy 2025;Ret (TCLFX)Fund Family : TIAA-CREFTicker : TCLFXPeer Group : IM Mixed-Asset Target 2025 (MF)Benchmark : TIAA-CREF Lifecycle 2025 IndexFund Inception : 10/15/2004Portfolio Manager : Erickson/CunniffTotal Assets : $1,006 MillionTotal Assets Date : 06/30/2015Gross Expense : 0.86%Net Expense : 0.68%Turnover : 12%
TIAA-CREF Bond Fund;Institutional 13.78 %TIAA-CREF Bond Plus Fund;Institutional 10.77 %TIAA-CREF Large-Cap Growth Fund;Institutional 8.79 %TIAA-CREF Enhanced Large-Cap Growth Index;Inst 8.51 %TIAA-CREF Large-Cap Value Fund;Institutional 8.21 %TIAA-CREF Enhanced Large-Cap Value Index;Inst 7.91 %TIAA-CREF Growth & Income Fund;Institutional 7.21 %TIAA-CREF International Equity Fund;Institutional 6.10 %TIAA-CREF Enhanced International Equity Index;Inst 5.48 %TIAA-CREF International Opportunities Fund;Inst 5.16 %
The Fund seeks high total return over time through acombination of capital appreciation and income by investing inUnderlying Funds according to an asset allocation strategydesigned for investors planning to retire in or within a fewyears of 2040.
Return StandardDeviation
SharpeRatio Beta R-Squared Tracking
ErrorInformation
Ratio Consistency UpCapture
DownCapture
TIAA-CREF Lifecycle 2025 Ret (TCLFX) 11.47 6.40 1.73 1.08 0.97 1.12 0.29 55.56 103.88 106.00TIAA-CREF Lifecycle 2025 Index 11.15 5.87 1.83 1.00 1.00 0.00 - 0.00 100.00 100.0090 Day US Treasury Bill 0.05 0.02 - 0.00 0.01 5.87 -1.83 27.78 0.26 -0.32
Over Under Sep-2010 Jun-2015
-10.0
0.0
10.0
20.0
30.0
TIAA
-CRE
F Li
fecy
cle
2025
Ret
(T
CLFX
) (%
)
-10.0 0.0 10.0 20.0 30.0
TIAA-CREF Lifecycle 2025 Index (%)
OverPerformance
UnderPerformance
TIAA-CREF Lifecycle 2025 Ret (TCLFX) TIAA-CREF Lifecycle 2025 Index
0
25
50
75
100
Retu
rn Pe
rcen
tile
Rank
9/10 6/11 3/12 12/12 9/13 6/14 6/15
TIAA-CREF Lifecycle 2025 Ret (TCLFX)
0
25
50
75
100Tr
acki
ng Er
ror
Perc
entil
e Ra
nk9/10 6/11 3/12 12/12 9/13 6/14 6/15
TIAA-CREF Lifecycle 2025 Ret (TCLFX) June 30, 2015
* 5 Year look back, if 5 years is not available, a since inception time period is used.4.24
Mutual Fund Details Relative Performance *
Individual Portfolio Statistics - 3 Years
Top Ten Holdings
3 Year Rolling Under/Over Performance * 3 Year Rolling Percentile Ranking (Return) *
Fund Objective
3 Year Rolling Percentile Ranking (Tracking Error) *
Cumulative Annualized Relative Performance Over/Under Performance
0.00
0.66
1.32
1.98
-0.66
-1.32
-1.98Re
turn
(%)
7/10 1/11 7/11 1/12 7/12 1/13 7/13 1/14 7/14 1/15 6/15
Product Name : TIAA-CREF:Lfcy 2020;Ret (TCLTX)Fund Family : TIAA-CREFTicker : TCLTXPeer Group : IM Mixed-Asset Target 2020 (MF)Benchmark : TIAA-CREF Lifecycle 2020 IndexFund Inception : 10/15/2004Portfolio Manager : Erickson/CunniffTotal Assets : $1,031 MillionTotal Assets Date : 06/30/2015Gross Expense : 0.84%Net Expense : 0.66%Turnover : 15%
TIAA-CREF Bond Fund;Institutional 18.64 %TIAA-CREF Bond Plus Fund;Institutional 10.83 %TIAA-CREF Large-Cap Growth Fund;Institutional 7.75 %TIAA-CREF Enhanced Large-Cap Growth Index;Inst 7.44 %TIAA-CREF Large-Cap Value Fund;Institutional 7.23 %TIAA-CREF Enhanced Large-Cap Value Index;Inst 6.91 %TIAA-CREF Growth & Income Fund;Institutional 6.36 %TIAA-CREF International Equity Fund;Institutional 5.47 %TIAA-CREF Enhanced International Equity Index;Inst 4.81 %TIAA-CREF International Opportunities Fund;Inst 4.56 %
The Fund seeks high total return over time through acombination of capital appreciation and income by investing inUnderlying Funds according to an asset allocation strategydesigned for investors planning to retire in or within a fewyears of 2040.
Return StandardDeviation
SharpeRatio Beta R-Squared Tracking
ErrorInformation
Ratio Consistency UpCapture
DownCapture
TIAA-CREF Lifecycle 2020 Ret (TCLTX) 10.31 5.77 1.73 1.08 0.98 1.00 0.35 50.00 104.51 106.55TIAA-CREF Lifecycle 2020 Index 9.95 5.28 1.82 1.00 1.00 0.00 - 0.00 100.00 100.0090 Day US Treasury Bill 0.05 0.02 - 0.00 0.01 5.28 -1.82 30.56 0.27 -0.41
Over Under Sep-2010 Jun-2015
-8.0
0.0
8.0
16.0
24.0
TIAA
-CRE
F Li
fecy
cle
2020
Ret
(T
CLTX
) (%
)
-8.0 0.0 8.0 16.0 24.0
TIAA-CREF Lifecycle 2020 Index (%)
OverPerformance
UnderPerformance
TIAA-CREF Lifecycle 2020 Ret (TCLTX) TIAA-CREF Lifecycle 2020 Index
0
25
50
75
100
Retu
rn Pe
rcen
tile
Rank
9/10 6/11 3/12 12/12 9/13 6/14 6/15
TIAA-CREF Lifecycle 2020 Ret (TCLTX)
0
25
50
75
100Tr
acki
ng Er
ror
Perc
entil
e Ra
nk9/10 6/11 3/12 12/12 9/13 6/14 6/15
TIAA-CREF Lifecycle 2020 Ret (TCLTX) June 30, 2015
* 5 Year look back, if 5 years is not available, a since inception time period is used.4.25
Mutual Fund Details Relative Performance *
Individual Portfolio Statistics - 3 Years
Top Ten Holdings
3 Year Rolling Under/Over Performance * 3 Year Rolling Percentile Ranking (Return) *
Fund Objective
3 Year Rolling Percentile Ranking (Tracking Error) *
Cumulative Annualized Relative Performance Over/Under Performance
0.00
0.59
1.18
1.77
-0.59
-1.18
-1.77Re
turn
(%)
7/10 1/11 7/11 1/12 7/12 1/13 7/13 1/14 7/14 1/15 6/15
Product Name : TIAA-CREF:Lfcy 2015;Ret (TCLIX)Fund Family : TIAA-CREFTicker : TCLIXPeer Group : IM Mixed-Asset Target 2015 (MF)Benchmark : TIAA-CREF Lifecycle 2015 IndexFund Inception : 10/15/2004Portfolio Manager : Erickson/CunniffTotal Assets : $708 MillionTotal Assets Date : 06/30/2015Gross Expense : 0.83%Net Expense : 0.65%Turnover : 20%
TIAA-CREF Bond Fund;Institutional 22.67 %TIAA-CREF Bond Plus Fund;Institutional 10.84 %TIAA-CREF Large-Cap Growth Fund;Institutional 6.72 %TIAA-CREF Enhanced Large-Cap Growth Index;Inst 6.37 %TIAA-CREF Large-Cap Value Fund;Institutional 6.25 %TIAA-CREF Inflation-Linked Bond Fund;Institutional 5.98 %TIAA-CREF Enhanced Large-Cap Value Index;Inst 5.91 %TIAA-CREF Short-Term Bond Fund;Institutional 5.83 %TIAA-CREF Growth & Income Fund;Institutional 5.50 %TIAA-CREF International Equity Fund;Institutional 4.74 %
The Fund seeks high total return over time through acombination of capital appreciation and income by investing inUnderlying Funds according to an asset allocation strategydesigned for investors planning to retire in or within a fewyears of 2040.
Return StandardDeviation
SharpeRatio Beta R-Squared Tracking
ErrorInformation
Ratio Consistency UpCapture
DownCapture
TIAA-CREF Lifecycle 2015 Ret (TCLIX) 9.14 5.20 1.70 1.09 0.97 0.95 0.36 52.78 105.30 108.50TIAA-CREF Lifecycle 2015 Index 8.80 4.70 1.81 1.00 1.00 0.00 - 0.00 100.00 100.0090 Day US Treasury Bill 0.05 0.02 - 0.00 0.01 4.71 -1.81 30.56 0.31 -0.46
Over Under Sep-2010 Jun-2015
-8.0
0.0
8.0
16.0
24.0
TIAA
-CRE
F Li
fecy
cle
2015
Ret
(TCL
IX)
(%)
-8.0 0.0 8.0 16.0 24.0
TIAA-CREF Lifecycle 2015 Index (%)
OverPerformance
UnderPerformance
TIAA-CREF Lifecycle 2015 Ret (TCLIX) TIAA-CREF Lifecycle 2015 Index
0
25
50
75
100
Retu
rn Pe
rcen
tile
Rank
9/10 6/11 3/12 12/12 9/13 6/14 6/15
TIAA-CREF Lifecycle 2015 Ret (TCLIX)
0
25
50
75
100Tr
acki
ng Er
ror
Perc
entil
e Ra
nk9/10 6/11 3/12 12/12 9/13 6/14 6/15
TIAA-CREF Lifecycle 2015 Ret (TCLIX) June 30, 2015
* 5 Year look back, if 5 years is not available, a since inception time period is used.4.26
Mutual Fund Details Relative Performance *
Individual Portfolio Statistics - 3 Years
Top Ten Holdings
3 Year Rolling Under/Over Performance * 3 Year Rolling Percentile Ranking (Return) *
Fund Objective
3 Year Rolling Percentile Ranking (Tracking Error) *
Cumulative Annualized Relative Performance Over/Under Performance
0.00
0.52
1.04
1.56
-0.52
-1.04
-1.56Re
turn
(%)
7/10 1/11 7/11 1/12 7/12 1/13 7/13 1/14 7/14 1/15 6/15
Product Name : TIAA-CREF:Lfcy 2010;Ret (TCLEX)Fund Family : TIAA-CREFTicker : TCLEXPeer Group : IM Mixed-Asset Target 2010 (MF)Benchmark : TIAA-CREF Lifecycle 2010 IndexFund Inception : 10/15/2004Portfolio Manager : Erickson/CunniffTotal Assets : $457 MillionTotal Assets Date : 06/30/2015Gross Expense : 0.82%Net Expense : 0.64%Turnover : 28%
TIAA-CREF Bond Fund;Institutional 23.81 %TIAA-CREF Bond Plus Fund;Institutional 10.86 %TIAA-CREF Inflation-Linked Bond Fund;Institutional 7.99 %TIAA-CREF Short-Term Bond Fund;Institutional 7.84 %TIAA-CREF Large-Cap Growth Fund;Institutional 6.01 %TIAA-CREF Enhanced Large-Cap Growth Index;Inst 5.69 %TIAA-CREF Large-Cap Value Fund;Institutional 5.62 %TIAA-CREF Enhanced Large-Cap Value Index;Inst 5.28 %TIAA-CREF Growth & Income Fund;Institutional 4.94 %TIAA-CREF International Equity Fund;Institutional 4.37 %
The Fund seeks high total return over time through acombination of capital appreciation and income by investing inUnderlying Funds according to an asset allocation strategydesigned for investors planning to retire in or within a fewyears of 2040.
Return StandardDeviation
SharpeRatio Beta R-Squared Tracking
ErrorInformation
Ratio Consistency UpCapture
DownCapture
TIAA-CREF Lifecycle 2010 Ret (TCLEX) 8.21 4.74 1.68 1.09 0.97 0.86 0.40 61.11 105.54 108.04TIAA-CREF Lifecycle 2010 Index 7.87 4.31 1.77 1.00 1.00 0.00 - 0.00 100.00 100.0090 Day US Treasury Bill 0.05 0.02 - 0.00 0.01 4.31 -1.77 27.78 0.36 -0.42
Over Under Sep-2010 Jun-2015
-6.0
0.0
6.0
12.0
18.0
24.0
TIAA
-CRE
F Li
fecy
cle
2010
Ret
(T
CLEX
) (%
)
-6.0 0.0 6.0 12.0 18.0 24.0
TIAA-CREF Lifecycle 2010 Index (%)
OverPerformance
UnderPerformance
TIAA-CREF Lifecycle 2010 Ret (TCLEX) TIAA-CREF Lifecycle 2010 Index
0
25
50
75
100
Retu
rn Pe
rcen
tile
Rank
9/10 6/11 3/12 12/12 9/13 6/14 6/15
TIAA-CREF Lifecycle 2010 Ret (TCLEX)
0
25
50
75
100Tr
acki
ng Er
ror
Perc
entil
e Ra
nk9/10 6/11 3/12 12/12 9/13 6/14 6/15
TIAA-CREF Lifecycle 2010 Ret (TCLEX) June 30, 2015
* 5 Year look back, if 5 years is not available, a since inception time period is used.4.27
Mutual Fund Details Relative Performance *
Individual Portfolio Statistics - 3 Years
Top Ten Holdings
3 Year Rolling Under/Over Performance * 3 Year Rolling Percentile Ranking (Return) *
Fund Objective
3 Year Rolling Percentile Ranking (Tracking Error) *
Cumulative Annualized Relative Performance Over/Under Performance
0.00
0.78
1.56
2.34
-0.78
-1.56
-2.34Re
turn
(%)
7/10 1/11 7/11 1/12 7/12 1/13 7/13 1/14 7/14 1/15 6/15
Product Name : TIAA-CREF:Lfcy Ret;Ret (TLIRX)Fund Family : TIAA-CREFTicker : TLIRXPeer Group : IM Mixed-Asset Target Today (MF)Benchmark : TIAA-CREF Lifecycle Income IndexFund Inception : 11/30/2007Portfolio Manager : Erickson/CunniffTotal Assets : $130 MillionTotal Assets Date : 06/30/2015Gross Expense : 0.85%Net Expense : 0.63%Turnover : 31%
TIAA-CREF Bond Fund;Institutional 25.03 %TIAA-CREF Bond Plus Fund;Institutional 10.81 %TIAA-CREF Inflation-Linked Bond Fund;Institutional 10.06 %TIAA-CREF Short-Term Bond Fund;Institutional 9.87 %TIAA-CREF Large-Cap Growth Fund;Institutional 5.32 %TIAA-CREF Enhanced Large-Cap Growth Index;Inst 4.99 %TIAA-CREF Large-Cap Value Fund;Institutional 4.95 %TIAA-CREF Enhanced Large-Cap Value Index;Inst 4.63 %TIAA-CREF Growth & Income Fund;Institutional 4.36 %TIAA-CREF International Equity Fund;Institutional 3.93 %
The Fund seeks high total return over time consistent with anemphasis on both capital growth and income. The Fund seeksto invest in a diversified portfolio consisting of about 40%stocks and 60% bonds.
Return StandardDeviation
SharpeRatio Beta R-Squared Tracking
ErrorInformation
Ratio Consistency UpCapture
DownCapture
TIAA-CREF Lifecycle Income Ret (TLIRX) 7.22 4.27 1.64 1.07 0.88 1.49 -0.09 58.33 100.34 105.46TIAA-CREF Lifecycle Income Index 7.37 3.76 1.90 1.00 1.00 0.00 - 0.00 100.00 100.0090 Day US Treasury Bill 0.05 0.02 - 0.00 0.00 3.76 -1.90 25.00 0.43 -0.32
Over Under Dec-2010 Jun-2015
-5.0
0.0
5.0
10.0
15.0
20.0
TIAA
-CRE
F Li
fecy
cle
Inco
me
Ret
(TLI
RX)
(%)
-5.0 0.0 5.0 10.0 15.0 20.0
TIAA-CREF Lifecycle Income Index (%)
OverPerformance
UnderPerformance
TIAA-CREF Lifecycle Income Ret (TLIRX) TIAA-CREF Lifecycle Income Index
0
25
50
75
100
Retu
rn Pe
rcen
tile
Rank
9/10 6/11 3/12 12/12 9/13 6/14 6/15
TIAA-CREF Lifecycle Income Ret (TLIRX)
0
25
50
75
100Tr
acki
ng Er
ror
Perc
entil
e Ra
nk9/10 6/11 3/12 12/12 9/13 6/14 6/15
TIAA-CREF Lifecycle Income Ret (TLIRX) June 30, 2015
* 5 Year look back, if 5 years is not available, a since inception time period is used.4.28
Mutual Fund Details Relative Performance *
Individual Portfolio Statistics - 3 Years
Style Analysis - 3 Years
3 Year Rolling Under/Over Performance * 3 Year Rolling Percentile Ranking (Return) *
Fund Objective
3 Year Rolling Percentile Ranking (Tracking Error) *
Cumulative Annualized Relative Performance Over/Under Performance
0.00
2.00
4.00
-2.00
-4.00Re
turn
(%)
7/10 1/11 7/11 1/12 7/12 1/13 7/13 1/14 7/14 1/15 6/15
Style History Jun-2015 Avg. Exposure
Capi
taliz
atio
n
Manager Style
Large Cap Growth
Small Cap GrowthSmall Cap Value
Large Cap Value
Product Name : Neuberger Rl Est;Inst (NBRIX)Fund Family : Neuberger Berman Management LLCTicker : NBRIXPeer Group : IM Real Estate Sector (MF)Benchmark : FTSE NAREIT Equity REIT IndexFund Inception : 06/04/2008Portfolio Manager : Shigekawa/JonesTotal Assets : $394 MillionTotal Assets Date : 06/30/2015Gross Expense : 1.07%Net Expense : 0.85%Turnover : 36%
The Fund seeks total return through investment in real estatesecurities, emphasizing both capital appreciation and currentincome.
Return StandardDeviation
SharpeRatio Beta R-Squared Tracking
ErrorInformation
Ratio Consistency UpCapture
DownCapture
Neuberger Berman Real Estate I (NBRIX) 6.39 11.67 0.59 0.86 0.97 2.86 -0.90 41.67 82.36 88.77FTSE NAREIT Equity REIT Index 8.93 13.37 0.70 1.00 1.00 0.00 - 0.00 100.00 100.0090 Day US Treasury Bill 0.05 0.02 - 0.00 0.01 13.37 -0.70 33.33 0.15 -0.12
Over Under Jun-2011 Jun-2015
-15.0
0.0
15.0
30.0
45.0
60.0
Neu
berg
er Be
rman
Real
Esta
te I
(N
BRIX
) (%
)
-15.0 0.0 15.0 30.0 45.0 60.0
FTSE NAREIT Equity REIT Index (%)
OverPerformance
UnderPerformance
Neuberger Berman Real Estate I (NBRIX) FTSE NAREIT Equity REIT Index
0
25
50
75
100
Retu
rn Pe
rcen
tile
Rank
9/10 6/11 3/12 12/12 9/13 6/14 6/15
Neuberger Berman Real Estate I (NBRIX)
0
25
50
75
100Tr
acki
ng Er
ror
Perc
entil
e Ra
nk9/10 6/11 3/12 12/12 9/13 6/14 6/15
Neuberger Berman Real Estate I (NBRIX) June 30, 2015
* 5 Year look back, if 5 years is not available, a since inception time period is used.4.29
Mutual Fund Details Relative Performance *
Individual Portfolio Statistics - 3 Years
Style Analysis - 3 Years
3 Year Rolling Under/Over Performance * 3 Yr Rolling Percentile Ranking (Return) *
Fund Objective
3 Year Rolling Percentile Ranking (Tracking Error) *
Cumulative Annualized Relative Performance Over/Under Performance
0.00
0.20
0.40
-0.20
-0.40
-0.60
-0.80Re
turn
(%)
7/10 1/11 7/11 1/12 7/12 1/13 7/13 1/14 7/14 1/15 6/15
Style History Jun-2015 Avg. Exposure
Qua
lity
Duration
Long Treasury
Long CreditIntermediate Credit
Intermediate Treasury
Product Name : Dreyfus Bd Mkt Idx;Inv (DBMIX)Fund Family : Dreyfus CorporationTicker : DBMIXPeer Group : IM U.S. Intermediate Investment Grade
(MF)Benchmark : Barclays AggregateFund Inception : 04/28/1994Portfolio Manager : Rogers/ZelayaTotal Assets : $1,170 MillionTotal Assets Date : 06/30/2015Gross Expense : 0.41%Net Expense : 0.40%Turnover : 145%
The Fund seeks to replicate the total return of the BarclaysCapital Aggregate Bond Index by investing at least 80% of itsassets in bonds that are included in the index.
Return StandardDeviation
SharpeRatio Beta R-Squared Tracking
ErrorInformation
Ratio Consistency UpCapture
DownCapture
Dreyfus Bond Market Index Inv (DBMIX) 1.34 2.93 0.45 1.00 1.00 0.18 -2.68 22.22 94.46 106.64Barclays Aggregate 1.83 2.91 0.62 1.00 1.00 0.00 - 0.00 100.00 100.0090 Day US Treasury Bill 0.05 0.02 - 0.00 0.01 2.91 -0.62 38.89 0.73 -0.55
Under Sep-2010 Jun-2015
0.0
2.5
5.0
7.5
10.0
Dre
yfus
Bond
Mar
ket
Inde
x In
v (D
BMIX
) (%
)
0.0 2.5 5.0 7.5 10.0
Barclays Aggregate (%)
OverPerformance
UnderPerformance
Dreyfus Bond Market Index Inv (DBMIX) Barclays Aggregate
0
25
50
75
100
Retu
rn Pe
rcen
tile
Rank
9/10 6/11 3/12 12/12 9/13 6/14 6/15
Dreyfus Bond Market Index Inv (DBMIX)
0
25
50
75
100
Trac
king
Erro
r Pe
rcen
tile
Rank
9/10 6/11 3/12 12/12 9/13 6/14 6/15
Dreyfus Bond Market Index Inv (DBMIX) June 30, 2015
* 5 Year look back, if 5 years is not available, a since inception time period is used.
4.30
Product Details Relative Performance *
Individual Portfolio Statistics - 3 Years
Style Analysis - 3 Years
3 Year Rolling Under/Over Performance * 3 Year Rolling Percentile Ranking (Return) *
Product Objective
3 Year Rolling Percentile Ranking (Tracking Error) *
Cumulative Annualized Relative Performance Over/Under Performance
0.00
0.30
0.60
-0.30
-0.60
-0.90Re
turn
(%)
7/10 1/11 7/11 1/12 7/12 1/13 7/13 1/14 7/14 1/15 6/15
Style History Jun-2015 Avg. Exposure
Qua
lity
Duration
Long Treasury
Long CreditIntermediate Credit
Intermediate Treasury
The fund seeks a long-term rate of return that outpacesinflation, primarily through investment in inflation-indexedbonds issued or guaranteed by the U.S. government or itsagencies, or by corporations and other U.S.-domiciledissuers, as well as by foreign governments. The fund canalso invest in money market instruments.
Return StandardDeviation
SharpeRatio Beta R-Squared Tracking
ErrorInformation
Ratio Consistency UpCapture
DownCapture
CREF Inflation-Linked Bond Annuity -1.16 5.17 -0.21 1.00 1.00 0.25 -1.60 27.78 95.57 101.60Barclays US Treasury: US TIPS -0.76 5.15 -0.13 1.00 1.00 0.00 - 0.00 100.00 100.0090 Day US Treasury Bill 0.05 0.02 - 0.00 0.04 5.15 0.13 41.67 0.57 -0.24
Under Sep-2010 Jun-2015
-4.0
0.0
4.0
8.0
12.0
16.0
CREF
Infla
tion-
Link
ed Bo
nd An
nuity
(%)
-4.0 0.0 4.0 8.0 12.0 16.0
Barclays US Treasury: US TIPS (%)
OverPerformance
UnderPerformance
CREF Inflation-Linked Bond Annuity Barclays US Treasury: US TIPS
0
25
50
75
100
Retu
rn Pe
rcen
tile
Rank
9/10 6/11 3/12 12/12 9/13 6/14 6/15
CREF Inflation-Linked Bond Annuity
0
25
50
75
100
Trac
king
Erro
r Pe
rcen
tile
Rank
9/10 6/11 3/12 12/12 9/13 6/14 6/15
CREF Inflation-Linked Bond Annuity June 30, 2015
* 5 Year look back, if 5 years is not available, a since inception time period is used.
4.31
Product Name CREF Inflation-Linked Bond FundPeer Group US TIPS Funds (MF)Benchmark Barclays TIPS IndexInception 05/01/1997Total Assets $7,519 MillionTotal Assets Date 09/30/2014Gross Expense 0.315%
Net Expense 0.315%
Product Details Relative Performance *
Individual Portfolio Statistics - 3 Years
Style Analysis - 3 Years
3 Year Rolling Under/Over Performance * 3 Year Rolling Percentile Ranking (Return) *
Product Objective
3 Year Rolling Percentile Ranking (Tracking Error) *
Cumulative Annualized Relative Performance Over/Under Performance
0.00
0.06
0.12
-0.06
-0.12
-0.18
-0.24Re
turn
(%)
7/10 1/11 7/11 1/12 7/12 1/13 7/13 1/14 7/14 1/15 6/15
Style History Jun-2015 Avg. Exposure
Qua
lity
Duration
Long Treasury
Long CreditIntermediate Credit
Intermediate Treasury
The fund seeks high current income consistent withmaintaining liquidity and preserving capital. The fundinvests primarily in high-quality, short-term money marketinstruments.
Return StandardDeviation
SharpeRatio Beta R-Squared Tracking
ErrorInformation
Ratio Consistency UpCapture
DownCapture
CREF Money Market Annuity 0.00 0.00 -3.27 0.01 0.08 0.02 -3.27 13.89 0.47 0.0090 Day US Treasury Bill 0.05 0.02 - 1.00 1.00 0.00 - 0.00 100.00 100.0090 Day US Treasury Bill 0.05 0.02 - 1.00 1.00 0.00 - 0.00 100.00 100.00
Over Under Sep-2010 Jun-2015
-0.5
0.0
0.5
1.0
1.5
CREF
Mon
ey M
arke
t An
nuity
(%)
-0.5 0.0 0.5 1.0 1.5
90 Day US Treasury Bill (%)
OverPerformance
UnderPerformance
CREF Money Market Annuity 90 Day US Treasury Bill
0
25
50
75
100
Retu
rn Pe
rcen
tile
Rank
9/10 6/11 3/12 12/12 9/13 6/14 6/15
CREF Money Market Annuity
0
25
50
75
100
Trac
king
Erro
r Pe
rcen
tile
Rank
9/10 6/11 3/12 12/12 9/13 6/14 6/15
CREF Money Market Annuity June 30, 2015
* 5 Year look back, if 5 years is not available, a since inception time period is used.
4.32
Product Name CREF Money MarketPeer Group US Taxable Money Market Funds (MF)Benchmark 90 Day U.S. Treasury BillInception 03/31/1988Total Assets $11,637 MillionTotal Assets Date 09/30/2014Gross Expense 0.315%Net Expense 0.315%
Rolling Relative Performance Comparative Performance
Credit Quality Distribution Sector Distribution (%) Portfolio Attributes
Rolling 1 Year Cumulative Over/Under Relative Performance
Over/Under Relative Performance
0.0
1.5
3.0
4.5
6.0
-1.5
Retu
rn (%
)
9/10 3/11 9/11 3/12 9/12 3/13 9/13 3/14 9/14 6/15
TIAA Traditional Annuity 90 Day US Treasury Bill
0.0
0.9
1.8
2.7
3.6
4.5
Retu
rn
3 Month CYTD 1 Year 3 Year 5 Year
0.0 0.0 0.0 0.1 0.1
0.9
1.8
3.5 3.4 3.4
0.0
5.0
10.0
15.0
20.0
25.0
Go vernmen t
Age ncyAAA AA A
B BB<B BB
O therC ash
7.6
16.2
7.2 6.8
18.519.6
9.1
0.0
15.0
0.0
15.0
30.0
45.0
60.0
In ves t G rade
Be lo w In ves t
G rade
M B S
CM B SAB S
M o rtgag e
Lo ans
O ther
C ash &
Sho rt Term
Effective Duration 7.74Avg. Quality AAACurrent Yield 3.75Avg. Maturity 15.99
Fund Assets ($Mil) 232,700
TIAA Traditional Annuity June 30, 2015
4.33
Historical Asset Allocation and Growth of AssetsAs of June 30, 2015
Historical Allocation Total Market Value of Assetsby Asset Class $368,677,926
South Carolina State ORP (VALIC)
$368.7
$0
$50
$100
$150
$200
$250
$300
$350
$400
Dec-
09M
ar-1
0Ju
n-10
Sep-
10De
c-10
Mar
-11
Jun-
11Se
p-11
Dec-
11M
ar-1
2Ju
n-12
Sep-
12De
c-12
Mar
-13
Jun-
13Se
p-13
Dec-
13M
ar-1
4Ju
n-14
Sep-
14De
c-14
Mar
-15
Jun-
15
$Mill
ions
0%
10%
20%
30%
40%
50%
60%
70%
80%
90%
100%
Dec-
09M
ar-1
0Ju
n-10
Sep-
10De
c-10
Mar
-11
Jun-
11Se
p-11
Dec-
11M
ar-1
2Ju
n-12
Sep-
12De
c-12
Mar
-13
Jun-
13Se
p-13
Dec-
13M
ar-1
4Ju
n-14
Sep-
14De
c-14
Mar
-15
Jun-
15
Domestic Equity International Equity SectorBalanced Target-Date Fixed IncomeGIC
5.1
11%
2%
4%
8% 9%
8% 8%
1%
4%
0% 1% 1% 1%
2% 1% 1% 1% 1%
0% 0%
4%
11%
3% 2%
14%
0%
5%
10%
15%
20%
25%Va
ngua
rd In
stitu
tiona
l Ind
ex In
st
Amer
Fun
ds F
unda
men
tal I
nves
tors
R6
Amer
Fun
ds A
mer
ican
Mut
ual R
6
MFS
Mas
sach
uset
ts In
v G
row
th S
tock
R5
Vang
uard
Mid
Cap
Inde
x In
st
Vang
uard
Sm
all C
ap In
dex
Inst
Opp
enhe
imer
Inte
rnat
iona
l Gro
wth
I
Vang
uard
Em
g M
kts S
tock
Inde
x Ad
mira
l
Amer
Fun
ds A
mer
ican
Bal
ance
d R6
Vang
uard
Tar
get R
etire
206
0 In
v
Vang
uard
Tar
get R
etire
205
5 In
v
Vang
uard
Tar
get R
etire
205
0 In
v
Vang
uard
Tar
get R
etire
204
5 In
v
Vang
uard
Tar
get R
etire
204
0 In
v
Vang
uard
Tar
get R
etire
203
5 In
v
Vang
uard
Tar
get R
etire
203
0 In
v
Vang
uard
Tar
get R
etire
202
5 In
v
Vang
uard
Tar
get R
etire
202
0 In
v
Vang
uard
Tar
get R
etire
201
5 In
v
Vang
uard
Tar
get R
etire
201
0 In
v
Vang
uard
Tar
get R
etire
Inco
me
Inv
Vang
uard
Hea
lth C
are
Adm
Vang
uard
Inte
rm In
vest
Gra
de A
dm
PIM
CO R
eal R
etur
n In
st
VALI
C Fi
xed
Inte
rest
VALIC Dollar-Weighted Asset Allocation
5.2
35%
9%
31%
36%
43% 45% 44%
8%
13%
3% 4% 4% 3% 6%
2% 2% 2% 4%
0% 2%
20%
24%
33%
27%
49%
0%
10%
20%
30%
40%
50%
60%Va
ngua
rd In
stitu
tiona
l Ind
ex In
st
Amer
Fun
ds F
unda
men
tal I
nves
tors
R6
Amer
Fun
ds A
mer
ican
Mut
ual R
6
MFS
Mas
sach
uset
ts In
v G
row
th S
tock
R5
Vang
uard
Mid
Cap
Inde
x In
st
Vang
uard
Sm
all C
ap In
dex
Inst
Opp
enhe
imer
Inte
rnat
iona
l Gro
wth
I
Vang
uard
Em
g M
kts S
tock
Inde
x Ad
mira
l
Amer
Fun
ds A
mer
ican
Bal
ance
d R6
Vang
uard
Tar
get R
etire
206
0 In
v
Vang
uard
Tar
get R
etire
205
5 In
v
Vang
uard
Tar
get R
etire
205
0 In
v
Vang
uard
Tar
get R
etire
204
5 In
v
Vang
uard
Tar
get R
etire
204
0 In
v
Vang
uard
Tar
get R
etire
203
5 In
v
Vang
uard
Tar
get R
etire
203
0 In
v
Vang
uard
Tar
get R
etire
202
5 In
v
Vang
uard
Tar
get R
etire
202
0 In
v
Vang
uard
Tar
get R
etire
201
5 In
v
Vang
uard
Tar
get R
etire
201
0 In
v
Vang
uard
Tar
get R
etire
Inco
me
Inv
Vang
uard
Hea
lth C
are
Adm
Vang
uard
Inte
rm In
vest
Gra
de A
dm
PIM
CO R
eal R
etur
n In
st
VALI
C Fi
xed
Inte
rest
VALIC Participant-Weighted Asset Allocation
5.3
South Carolina State ORP (VALIC)Fund MonitorAs of June 30, 2015
FundExcess
Performance1Peer
Universe Rank2Information Ratio Rank3
Sharpe Ratio Rank4 Other Status Change
US Equity: Large CapVanguard Institutional Index Inst (VINIX) (P) - - - - Pass Good 0Amer Funds Fundamental Investors R6 (RFNGX) Fail Pass Pass Pass - Good 3Amer Funds American Mutual R6 (RMFGX) Fail Fail Pass Pass - Watch List 6 DownMFS Mass Investors Growth Stock R5 (MIGNX) Fail Fail Fail Pass - Watch List 30US Equity: Non-Large CapVanguard Mid Cap Index Inst (VMCIX) (P) - - - - Pass Good 0Vanguard Small Cap Index Inst (VSCIX) (P) - - - - Pass Good 0
International EquityOppenheimer International Growth I (OIGIX) Pass Pass Pass Pass - Good 0Vanguard Emerging Mkts Stock Index Adm (VEMAX) (P) - - - - Pass Good 0
Balanced FundsAmer Funds American Balanced R6 (RLBGX) Pass Pass Pass Pass - Good 0Vanguard Retirement Target-Date Suite (P) - - - - Pass Good 0
Sector FundVanguard Health Care Adm (VGHAX) Pass Fail Pass Pass - Good 4
Fixed Income 0Vanguard Interm Term Invest Grade Adm (VFIDX) Fail Pass Pass Pass - Good 0PIMCO Real Return Inst (PRRIX) Fail Pass Pass Pass - Good 0
Stable ValueVALIC Fixed Interest Option - - - - Pass Good 0
Source: Lipper
Methodology
(P) Passive Funds
Other:
For Passive funds, Other is defined as tracking error commensurate with the asset class (domestic equity & fixed income less than or equal to .50%, International equity less than or equal to 2.00%).
For Insurance or Stable Value products, Other is defined as insurer's credit quality and competitiveness of rate of return.
For Target-Date funds, Other is defined as two out of the three one, three, and five-year peer ranks place the entire suite of funds in the top half of its applicable peer universe.
Active Funds1Fund performance exceeds the return of the independent benchmark for at least two of the most recent one, three, and five-year trailing periods. 2Fund performance places it in the top half of its applicable peer universe for at least two of the most recent one, three, and five-year trailing periods. 3Information ratio places the fund in the top half of its applicable peer universe for at least two of the most recent one, three, and five-year trailing periods. 4Sharpe ratio places the fund in the top half of its applicable peer universe for at least two of the most recent one, three, and five-year trailing periods. 5Number represents the number of quarters (consecutive or non-consecutive) the fund has been on the watch list over the previous trailing 12 quarters.
Primary Benchmarks Secondary Benchmarks # of Quarters on Watch List for Trailing
12 Quarters5
5.4
As of June 30, 2015
Domestic EquityVanguard Institutional Index Inst VINIX 0.27% 1.34 12.71% 7.41% 17.28% 17.31% 22 20Amer Funds Fundamental Investors R6 RFNGX 0.54% 1.21 13.39% 6.79% 17.49% 16.29% 44 46Amer Funds American Mutual R6 RMFGX 0.53% 1.41 10.45% 5.03% 14.68% 15.11% 54 52MFS Massachusetts Inv Growth Stock R5 MIGNX 0.62% 1.31 12.76% 8.12% 17.13% 17.06% 54 50Vanguard Mid Cap Index Inst VMCIX 0.31% 1.17 15.62% 8.66% 19.70% 18.26% 15 15Vanguard Small Cap Index Inst VSCIX 0.31% 1.07 17.16% 5.25% 18.74% 18.17% 19 19International EquityOppenheimer International Growth I OIGIX 0.93% 0.82 15.31% -2.74% 13.05% 11.95% 1 15Vanguard Emg Mkts Stock Index Admiral VEMAX 0.38% 0.31 17.91% -2.42% 4.13% 4.14% 40 39Balanced Amer Funds American Balanced R6 RLBGX 0.52% 1.55 8.35% 4.54% 12.53% 13.29% 1 2Target DateVanguard Target Retire 2060 Inv VTTSX 0.41% - - 3.19% 13.81% - - -Vanguard Target Retire 2055 Inv VFFVX 0.41% - - 3.21% 13.79% - - -Vanguard Target Retire 2050 Inv VFIFX 0.41% 1.11 12.16% 3.29% 13.81% 13.51% 18 17Vanguard Target Retire 2045 Inv VTIVX 0.41% 1.11 12.15% 3.29% 13.80% 13.51% 17 14Vanguard Target Retire 2040 Inv VFORX 0.41% 1.11 12.17% 3.28% 13.82% 13.50% 13 12Vanguard Target Retire 2035 Inv VTTHX 0.41% 1.11 11.88% 3.26% 13.21% 13.16% 17 14Vanguard Target Retire 2030 Inv VTHRX 0.40% 1.14 10.78% 3.19% 12.20% 12.35% 18 16Vanguard Target Retire 2025 Inv VTTVX 0.40% 1.18 9.69% 3.09% 11.18% 11.52% 25 21Vanguard Target Retire 2020 Inv VTWNX 0.39% 1.23 8.60% 3.03% 10.19% 10.70% 9 9Vanguard Target Retire 2015 Inv VTXVX 0.39% 1.28 7.46% 2.61% 8.81% 9.68% 14 11Vanguard Target Retire 2010 Inv VTENX 0.39% 1.38 5.96% 2.18% 6.95% 8.37% 31 30Vanguard Target Retire Income Inv VTINX 0.39% 1.66 3.98% 1.94% 5.35% 6.76% 20 15SpecialtyVanguard Health Care Adm VGHAX 0.52% 2.41 9.68% 27.84% 30.19% 25.02% 55 48Fixed IncomeVanguard Interm Invest Grade Adm VFIDX 0.33% 1.33 3.72% 1.99% 3.18% 5.03% 2 63PIMCO Real Return Inst PRRIX 0.68% 0.56 5.87% -3.05% -0.90% 3.26% 5 3Stable ValueVALIC Fixed Interest N/A - - - 3.00% 3.00% 3.10% - -*Total Feereflects each fund's expense ratio plus a 23 bps administrative fee assessed by VALIC.1Higher number is better2Lower number is better
South Carolina State ORP (VALIC)
Fund Total Fee* Expense Ratio
5-Year Sharpe Ratio1
5-Year Standard Deviation
Total Return Total Return Percentile Rank2
1 Year 3 Year 5 Year5 Year Lipper Peer
Group5 Year Morningstar
Peer Group
5.5
Fund Line-Up Statistics
Asset $ Asset %Total Fee* 3 Month CYTD 1 Year 3 Year 5 Year 10 Year
Domestic Equity: Large Cap FundsVanguard Institutional Index Inst (VINIX) 40,940,725 11.10 27 0.28 43 1.22 46 7.41 27 17.28 36 17.31 22 7.90 28S&P 500 0.28 1.23 7.42 17.31 17.34 7.89Excess Return 0.00 -0.01 -0.01 -0.03 -0.03 0.01IM U.S. Large Cap Core Equity (MF) - - - - - - - - - - - -
Amer Funds Fundamental Investors R6 (RFNGX)** 5,537,722 1.50 54 1.41 10 3.11 10 6.79 38 17.49 32 16.29 44 9.15 7S&P 500 0.28 1.23 7.42 17.31 17.34 7.89Excess Return 1.13 1.88 -0.63 0.18 -1.05 1.26IM U.S. Large Cap Core Equity (MF) - - - - - - - - - - - -
Amer Funds American Mutual R6 (RMFGX)** 13,052,587 3.54 53 -1.04 91 -0.89 83 5.03 35 14.68 84 15.11 54 7.85 12Russell 1000 Value Index 0.11 -0.61 4.13 17.34 16.50 7.05Excess Return -1.15 -0.28 0.90 -2.66 -1.39 0.80IM U.S. Large Cap Value Equity (MF) - - - - - - - - - - - -
MFS Mass Investors Growth Stock R5 (MIGNX)** 30,343,988 8.23 62 -0.35 78 1.36 94 8.12 76 17.13 64 17.06 54 8.54 40Russell 1000 Growth Index 0.12 3.96 10.56 17.99 18.59 9.10Excess Return -0.47 -2.60 -2.44 -0.86 -1.53 -0.56IM U.S. Large Cap Growth Equity (MF) - - - - - - - - - - - -
Domestic Equity: Non-Large Cap FundsVanguard Mid Cap Index Inst (VMCIX) 34,724,181 9.42 31 -1.16 56 3.07 50 8.66 16 19.70 17 18.26 15 9.40 18Vanguard Mid Cap Spliced Index -1.18 3.09 8.68 19.74 18.31 9.41Excess Return 0.02 -0.02 -0.02 -0.04 -0.05 -0.01IM U.S. Mid Cap Core Equity (MF) - - - - - - - - - - - -
Vanguard Small Cap Index Inst (VSCIX) 29,029,363 7.87 31 -0.56 62 4.21 31 5.25 46 18.74 23 18.17 19 9.52 5Vanguard Small Cap Spliced Index -0.59 4.18 5.21 18.71 18.11 9.42Excess Return 0.03 0.03 0.04 0.03 0.06 0.10IM U.S. Small Cap Core Equity (MF) - - - - - - - - - - - -
International Equity FundOppenheimer International Growth I (OIGIX)** 29,002,959 7.87 93 2.68 11 6.95 23 -2.74 39 13.05 9 11.95 1 8.30 2MSCI EAFE Index (Net) 0.62 5.52 -4.22 11.97 9.54 5.12Excess Return 2.06 1.43 1.48 1.08 2.41 3.18IM International Large Cap Equity (MF) - - - - - - - - - - - -
Vanguard Emerging Mkts Stock Index Admiral (VEMAX)** 2,295,677 0.62 38 1.70 30 3.84 24 -2.42 17 4.13 40 4.14 40 -Vanguard Spliced Emerging Markets Index 1.88 3.81 -2.15 4.63 4.24 -Excess Return -0.18 0.03 -0.27 -0.50 -0.10 -IM Emerging Markets Equity (MF) - - - - - - - - - - - -
Balanced FundsAmer Funds American Balanced R6 (RLBGX)** 14,138,709 3.83 52 -0.26 23 0.55 75 4.54 7 12.53 2 13.29 1 7.31 360% S&P 500 / 40% Barclays Aggregate -0.51 0.79 5.28 10.98 11.76 6.79Excess Return 0.25 -0.24 -0.74 1.55 1.53 0.52IM Mixed-Asset Target Alloc Moderate (MF) - - - - - - - - - - - -
South Carolina State ORP (VALIC)Performance Scorecard (net of fees)June 30, 2015
Performance(%) and Percentile Rank
*The Total Fee reflects each fund's expense ratio plus a 23 bps administrative fee assessed by VALIC. **Please refer to the Appendix for Backdated Performance Detail.
5.6
Asset $ Asset %Total Fee* 3 Month CYTD 1 Year 3 Year 5 Year 10 Year
South Carolina State ORP (VALIC)Performance Scorecard (net of fees)June 30, 2015
Performance(%) and Percentile Rank
Target-Date Retirement FundsVanguard Target Retirement 2060 Inv (VTTSX) 1,212,470 0.33 41 0.07 58 2.45 69 3.19 34 13.81 31 - -Vanguard Target 2060 Composite Index 0.19 2.54 3.59 14.14 - -Excess Return -0.12 -0.09 -0.40 -0.33 - -IM Mixed-Asset Target 2055+ (MF) - - - - - - - - - - - -
Vanguard Target Retirement 2055 Inv (VFFVX) 4,237,200 1.15 41 0.06 58 2.44 70 3.21 33 13.79 32 - -Vanguard Target 2055 Composite Index 0.19 2.54 3.59 14.14 - -Excess Return -0.13 -0.10 -0.38 -0.35 - -IM Mixed-Asset Target 2055+ (MF) - - - - - - - - - - - -
Vanguard Target Retirement 2050 Inv (VFIFX) 4,652,624 1.26 41 0.13 40 2.50 60 3.29 29 13.81 24 13.51 18 -Vanguard Target 2050 Composite Index 0.19 2.54 3.59 14.14 13.76 -Excess Return -0.06 -0.04 -0.30 -0.33 -0.25 -IM Mixed-Asset Target 2050 (MF) - - - - - - - - - - - -
Vanguard Target Retirement 2045 Inv (VTIVX) 4,197,391 1.14 41 0.10 42 2.52 60 3.29 28 13.80 23 13.51 17 7.10 28Vanguard Target 2045 Composite Index 0.19 2.54 3.59 14.14 13.76 7.22Excess Return -0.09 -0.02 -0.30 -0.34 -0.25 -0.12IM Mixed-Asset Target 2045 (MF) - - - - - - - - - - - -
Vanguard Target Retirement 2040 Inv (VFORX) 7,962,308 2.16 41 0.13 38 2.52 51 3.28 26 13.82 15 13.50 13 -Vanguard Target 2040 Composite Index 0.19 2.54 3.59 14.14 13.76 -Excess Return -0.06 -0.02 -0.31 -0.32 -0.26 -IM Mixed-Asset Target 2040 (MF) - - - - - - - - - - - -
Vanguard Target Retirement 2035 Inv (VTTHX) 4,157,704 1.13 41 -0.05 46 2.30 57 3.26 24 13.21 22 13.16 17 6.76 16Vanguard Target 2035 Composite Index 0.01 2.33 3.49 13.50 13.39 6.89Excess Return -0.06 -0.03 -0.23 -0.29 -0.23 -0.13IM Mixed-Asset Target 2035 (MF) - - - - - - - - - - - -
Vanguard Target Retirement 2030 Inv (VTHRX) 4,396,574 1.19 40 -0.24 44 2.07 50 3.19 19 12.20 18 12.35 18 -Vanguard Target 2030 Composite Index -0.17 2.11 3.40 12.48 12.58 -Excess Return -0.07 -0.04 -0.21 -0.28 -0.23 -IM Mixed-Asset Target 2030 (MF) - - - - - - - - - - - -
Vanguard Target Retirement 2025 Inv (VTTVX) 4,830,005 1.31 40 -0.41 49 1.81 45 3.09 11 11.18 21 11.52 25 6.31 16Vanguard Target 2025 Composite Index -0.34 1.89 3.32 11.47 11.77 6.44Excess Return -0.07 -0.08 -0.23 -0.29 -0.25 -0.13IM Mixed-Asset Target 2025 (MF) - - - - - - - - - - - -
Vanguard Target Retirement 2020 Inv (VTWNX) 4,604,595 1.25 39 -0.58 49 1.58 39 3.03 8 10.19 10 10.70 9 -Vanguard Target 2020 Composite Index -0.52 1.67 3.22 10.46 10.94 -Excess Return -0.06 -0.09 -0.19 -0.27 -0.24 -IM Mixed-Asset Target 2020 (MF) - - - - - - - - - - - -
*The Total Fee reflects each fund's expense ratio plus a 23 bps administrative fee assessed by VALIC. **Please refer to the Appendix for Backdated Performance Detail.
5.7
Asset $ Asset %Total Fee* 3 Month CYTD 1 Year 3 Year 5 Year 10 Year
South Carolina State ORP (VALIC)Performance Scorecard (net of fees)June 30, 2015
Performance(%) and Percentile Rank
Target-Date Retirement Funds (cont...)Vanguard Target Retirement 2015 Inv (VTXVX) 551,538 0.15 39 -0.64 54 1.37 44 2.61 5 8.81 19 9.68 14 5.95 6Vanguard Target 2015 Composite Index -0.57 1.46 2.82 9.02 9.80 5.97Excess Return -0.07 -0.09 -0.21 -0.21 -0.12 -0.02IM Mixed-Asset Target 2015 (MF) - - - - - - - - - - - -
Vanguard Target Retirement 2010 Inv (VTENX) 1,094,559 0.30 39 -0.82 83 1.03 66 2.18 9 6.95 51 8.37 31 -Vanguard Target 2010 Composite Index -0.77 1.09 2.33 7.14 8.47 -Excess Return -0.05 -0.06 -0.15 -0.19 -0.10 -IM Mixed-Asset Target 2010 (MF) - - - - - - - - - - - -
Vanguard Target Retirement Income Inv (VTINX) 15,191,952 4.12 39 -0.93 60 0.81 42 1.94 9 5.35 28 6.76 20 5.23 12Vanguard Target Income Composite Index -0.84 0.94 2.15 5.57 6.91 5.27Excess Return -0.09 -0.13 -0.21 -0.22 -0.15 -0.04IM Mixed-Asset Target Today (MF) - - - - - - - - - - - -
Sector FundVanguard Health Care Adm (VGHAX) 42,288,053 11.47 52 3.81 62 13.84 70 27.84 77 30.19 51 25.02 55 13.63 52S&P 500 Health Care 2.84 9.56 24.17 27.31 23.84 11.27Excess Return 0.97 4.28 3.67 2.88 1.18 2.36IM Health/Biotech Sector (MF) - - - - - - - - - - - -
Fixed Income FundsVanguard Interm Term Investment Grade Adm (VFIDX) 12,440,508 3.37 33 -1.55 100 0.70 50 1.99 1 3.18 5 5.03 2 5.31 2Barclays US Credit 5-10 Year Index -2.06 0.53 1.85 3.69 5.68 5.67Excess Return 0.51 0.17 0.14 -0.51 -0.65 -0.36IM U.S. Intermediate Investment Grade (MF) - - - - - - - - - - - -
PIMCO Real Return Inst (PRRIX) 6,967,499 1.89 68 -1.68 91 -0.14 69 -3.05 67 -0.90 35 3.26 5 4.41 4Barclays US Treasury: US TIPS -1.06 0.34 -1.73 -0.76 3.29 4.14Excess Return -0.62 -0.48 -1.32 -0.14 -0.03 0.27IM U.S. TIPS (MF) - - - - - - - - - - - -
Stable Value FundVALIC Fixed Interest Option (3.00%) 50,827,037 13.79 -- 0.74 1.49 3.00 3.00 3.10 3.4290 Day US Treasury Bill 0.01 0.02 0.03 0.05 0.07 1.38Excess Return 0.73 1.47 2.97 2.95 3.03 2.04
VALIC Total 368,677,926 100.00 40 - - - - - - - - - - - -
Guided Portfolio Service Assets 31,882,826 - - - - - - - - - - - -
*The Total Fee reflects each fund's expense ratio plus a 23 bps administrative fee assessed by VALIC. **Please refer to the Appendix for Backdated Performance Detail.
5.8
0.00%
1.00%
2.00%
3.00%
4.00%
5.00%
6.00%
Dec-
04M
ar-0
5Ju
n-05
Sep-
05De
c-05
Mar
-06
Jun-
06Se
p-06
Dec-
06M
ar-0
7Ju
n-07
Sep-
07De
c-07
Mar
-08
Jun-
08Se
p-08
Dec-
08M
ar-0
9Ju
n-09
Sep-
09De
c-09
Mar
-10
Jun-
10Se
p-10
Dec-
10M
ar-1
1Ju
n-11
Sep-
11De
c-11
Mar
-12
Jun-
12Se
p-12
Dec-
12M
ar-1
3Ju
n-13
Sep-
13De
c-13
Mar
-14
Jun-
14Se
p-14
Dec-
14M
ar-1
5Ju
n-15
VALIC Historical Crediting Rate
VALIC Fixed Interest
5.9
Mutual Fund Details Relative Performance *
Individual Portfolio Statistics - 3 Years
Style Analysis - 3 Years
3 Year Rolling Under/Over Performance * 3 Yr Rolling Percentile Ranking (Return) *
Fund Objective
3 Year Rolling Percentile Ranking (Tracking Error) *
Cumulative Annualized Relative Performance Over/Under Performance
0.00
0.02
-0.02
-0.04
-0.06Re
turn
(%)
7/10 1/11 7/11 1/12 7/12 1/13 7/13 1/14 7/14 1/15 6/15
Style History Jun-2015 Avg. Exposure
Capi
taliz
atio
n
Manager Style
Large Cap Growth
Small Cap GrowthSmall Cap Value
Large Cap Value
The Fund seeks to match the investment performance of theStandard & Poor's 500 Composite Stock Price Index.
Return StandardDeviation
SharpeRatio Beta R-Squared Tracking
ErrorInformation
Ratio Consistency UpCapture
DownCapture
Vanguard Institutional Index Inst (VINIX) 17.28 8.43 1.94 1.00 1.00 0.01 -1.87 25.00 99.91 100.10S&P 500 17.31 8.43 1.94 1.00 1.00 0.00 - 0.00 100.00 100.0090 Day US Treasury Bill 0.05 0.02 - 0.00 0.05 8.44 -1.94 27.78 0.17 -0.23
Over Under Sep-2010 Jun-2015
-15.0
0.0
15.0
30.0
Vang
uard
Inst
itutio
nal
In
dex
Inst
(VIN
IX)
(%)
-15.0 0.0 15.0 30.0
S&P 500 (%)
OverPerformance
UnderPerformance
Vanguard Institutional Index Inst (VINIX) S&P 500
0
25
50
75
100
Retu
rn Pe
rcen
tile
Rank
9/10 6/11 3/12 12/12 9/13 6/14 6/15
Vanguard Institutional Index Inst (VINIX)
0
25
50
75
100
Trac
king
Erro
r Pe
rcen
tile
Rank
9/10 6/11 3/12 12/12 9/13 6/14 6/15
Vanguard Institutional Index Inst (VINIX) June 30, 2015
* 5 Year look back, if 5 years is not available, a since inception time period is used.
5.10
Product Name : Vanguard Instl Indx;Inst (VINIX)Fund Family : Vanguard Group IncTicker : VINIXPeer Group : IM U.S. Large Cap Core Equity (MF)Benchmark : S&P 500Fund Inception : 07/31/1990Portfolio Manager : Donald M. ButlerTotal Assets : $107,226 MillionTotal Assets Date : 05/31/2015Total Fee : 0.27%Turnover : 4%
Mutual Fund Details Relative Performance *
Individual Portfolio Statistics - 3 Years
Style Analysis - 3 Years
3 Year Rolling Under/Over Performance * 3 Year Rolling Percentile Ranking (Return) *
Fund Objective
3 Year Rolling Percentile Ranking (Tracking Error) *
Cumulative Annualized Relative Performance Over/Under Performance
0.00
2.00
4.00
-2.00
-4.00Re
turn
(%)
7/10 1/11 7/11 1/12 7/12 1/13 7/13 1/14 7/14 1/15 6/15
Style History Jun-2015 Avg. Exposure
Capi
taliz
atio
n
Manager Style
Large Cap Growth
Small Cap GrowthSmall Cap Value
Large Cap Value
The Fund seeks to provide income over time by investingprimarily in common stocks of large, established companiesthat offer growth potential at reasonable prices. The Fund mayalso invest significantly in non-US securities.
Return StandardDeviation
SharpeRatio Beta R-Squared Tracking
ErrorInformation
Ratio Consistency UpCapture
DownCapture
Amer Funds Fundamental Investors R6 (RFNGX) 17.49 8.43 1.96 0.96 0.93 2.24 0.07 44.44 100.19 98.22S&P 500 17.31 8.43 1.94 1.00 1.00 0.00 - 0.00 100.00 100.0090 Day US Treasury Bill 0.05 0.02 - 0.00 0.05 8.44 -1.94 27.78 0.17 -0.23
Over Under Sep-2010 Jun-2015
-15.0
0.0
15.0
30.0
erFu
nds
Fund
amen
tal
Inve
stor
s R6
(RFN
GX)
-15.0 0.0 15.0 30.0
S&P 500 (%)
OverPerformance
UnderPerformance
Amer Funds Fundamental Investors R6 (RFNGX)
S&P 500
0
25
50
75
100
Retu
rn Pe
rcen
tile
Rank
9/10 6/11 3/12 12/12 9/13 6/14 6/15
Amer Funds Fundamental Investors R6 (RFNGX)
0
25
50
75
100Tr
acki
ng Er
ror
Perc
entil
e Ra
nk9/10 6/11 3/12 12/12 9/13 6/14 6/15
Amer Funds Fundamental Investors R6 (RFNGX) June 30, 2015
* 5 Year look back, if 5 years is not available, a since inception time period is used.5.11
Product Name : American Funds FInv;R-6 (RFNGX)Fund Family : American FundsTicker : RFNGXPeer Group : IM U.S. Large Cap Core Equity (MF)Benchmark : S&P 500Fund Inception : 05/01/2009Portfolio Manager : Team ManagedTotal Assets : $6,196 MillionTotal Assets Date : 06/30/2015Total Fee : 0.54%Turnover : 29%
Mutual Fund Details Relative Performance *
Individual Portfolio Statistics - 3 Years
Style Analysis - 3 Years
3 Year Rolling Under/Over Performance * 3 Year Rolling Percentile Ranking (Return) *
Fund Objective
3 Year Rolling Percentile Ranking (Tracking Error) *
Cumulative Annualized Relative Performance Over/Under Performance
0.00
3.00
6.00
-3.00
-6.00Re
turn
(%)
7/10 1/11 7/11 1/12 7/12 1/13 7/13 1/14 7/14 1/15 6/15
Style History Jun-2015 Avg. Exposure
Capi
taliz
atio
n
Manager Style
Large Cap Growth
Small Cap GrowthSmall Cap Value
Large Cap Value
The Fund seeks current income, growth of capital andconservation of principal. The Fund seeks to invest primarily incommon stocks of companies that are likely to participate inthe growth of the American economy and whose dividendsappear to be sustainable in the United States and Canada.
Return StandardDeviation
SharpeRatio Beta R-Squared Tracking
ErrorInformation
Ratio Consistency UpCapture
DownCapture
Amer Funds American Mutual R6 (RMFGX) 14.68 7.53 1.86 0.80 0.86 3.29 -0.74 44.44 84.12 81.18Russell 1000 Value Index 17.34 8.76 1.88 1.00 1.00 0.00 - 0.00 100.00 100.0090 Day US Treasury Bill 0.05 0.02 - 0.00 0.04 8.76 -1.88 27.78 0.15 -0.30
Over Under Sep-2010 Jun-2015
-30.0
-15.0
0.0
15.0
30.0
Amer
Fund
s Am
eric
an M
utua
l
R6 (R
MFG
X) (%
-30.0 -15.0 0.0 15.0 30.0
Russell 1000 Value Index (%)
OverPerformance
UnderPerformance
Amer Funds American Mutual R6 (RMFGX)
Russell 1000 Value Index
0
25
50
75
100
Retu
rn Pe
rcen
tile
Rank
9/10 6/11 3/12 12/12 9/13 6/14 6/15
Amer Funds American Mutual R6 (RMFGX)
0
25
50
75
100Tr
acki
ng Er
ror
Perc
entil
e Ra
nk9/10 6/11 3/12 12/12 9/13 6/14 6/15
Amer Funds American Mutual R6 (RMFGX) June 30, 2015
* 5 Year look back, if 5 years is not available, a since inception time period is used.5.12
Product Name : American Funds Mut;R-6 (RMFGX)Fund Family : American FundsTicker : RMFGXPeer Group : IM U.S. Large Cap Value Equity (MF)Benchmark : Russell 1000 Value IndexFund Inception : 05/01/2009Portfolio Manager : Team ManagedTotal Assets : $5,749 MillionTotal Assets Date : 06/30/2015Total Fee : 0.53%Turnover : 16%
Mutual Fund Details Relative Performance *
Individual Portfolio Statistics - 3 Years
Style Analysis - 3 Years
3 Year Rolling Under/Over Performance * 3 Year Rolling Percentile Ranking (Return) *
Fund Objective
3 Year Rolling Percentile Ranking (Tracking Error) *
Cumulative Annualized Relative Performance Over/Under Performance
0.00
2.00
4.00
-2.00
-4.00
-6.00Re
turn
(%)
7/10 1/11 7/11 1/12 7/12 1/13 7/13 1/14 7/14 1/15 6/15
Style History Jun-2015 Avg. Exposure
Capi
taliz
atio
n
Manager Style
Large Cap Growth
Small Cap GrowthSmall Cap Value
Large Cap Value
The Fund seeks to provide long-term capital growth and futureincome by keeping its assets invested, except for working cashbalances, in the common stock or convertible securities ofcompanies believed to have better-than-average prospects forlong-term growth.
Return StandardDeviation
SharpeRatio Beta R-Squared Tracking
ErrorInformation
Ratio Consistency UpCapture
DownCapture
MFS Mass Investors Growth Stock R5 (MIGNX) 17.13 9.00 1.81 0.98 0.91 2.68 -0.27 38.89 97.09 100.60Russell 1000 Growth Index 17.99 8.75 1.94 1.00 1.00 0.00 - 0.00 100.00 100.0090 Day US Treasury Bill 0.05 0.02 - 0.00 0.04 8.76 -1.94 36.11 0.14 -0.31
Over Under Sep-2010 Jun-2015
-15.0
0.0
15.0
30.0
45.0
SM
ass
Inve
stor
s G
row
th St
ock
R5 (M
IGN
X) (
-15.0 0.0 15.0 30.0 45.0
Russell 1000 Growth Index (%)
OverPerformance
UnderPerformance
MFS Mass Investors Growth Stock R5 (MIGNX)
Russell 1000 Growth Index
0
25
50
75
100
Retu
rn Pe
rcen
tile
Rank
9/10 6/11 3/12 12/12 9/13 6/14 6/15
MFS Mass Investors Growth Stock R5 (MIGNX)
0
25
50
75
100Tr
acki
ng Er
ror
Perc
entil
e Ra
nk9/10 6/11 3/12 12/12 9/13 6/14 6/15
MFS Mass Investors Growth Stock R5 (MIGNX) June 30, 2015
* 5 Year look back, if 5 years is not available, a since inception time period is used.5.13
Product Name : MFS Mass Inv Gro;R5 (MIGNX)Fund Family : MFS Investment ManagementTicker : MIGNXPeer Group : IM U.S. Large Cap Growth Equity (MF)Benchmark : Russell 1000 Growth IndexFund Inception : 06/01/2012Portfolio Manager : Jeffrey C. ConstantinoTotal Assets : $409 MillionTotal Assets Date : 06/30/2015Total Fee : 0.62%Turnover : 26%
Mutual Fund Details Relative Performance *
Individual Portfolio Statistics - 3 Years
Style Analysis - 3 Years
3 Year Rolling Under/Over Performance * 3 Yr Rolling Percentile Ranking (Return) *
Fund Objective
3 Year Rolling Percentile Ranking (Tracking Error) *
Cumulative Annualized Relative Performance Over/Under Performance
0.00
0.04
0.08
-0.04
-0.08
-0.12Re
turn
(%)
7/10 1/11 7/11 1/12 7/12 1/13 7/13 1/14 7/14 1/15 6/15
Style History Jun-2015 Avg. Exposure
Capi
taliz
atio
n
Manager Style
Large Cap Growth
Small Cap GrowthSmall Cap Value
Large Cap Value
Return StandardDeviation
SharpeRatio Beta R-Squared Tracking
ErrorInformation
Ratio Consistency UpCapture
DownCapture
Vanguard Mid Cap Index Inst (VMCIX) 19.70 9.20 2.01 1.00 1.00 0.06 -0.59 41.67 99.83 99.94Vanguard Mid Cap Spliced Index 19.74 9.20 2.01 1.00 1.00 0.00 - 0.00 100.00 100.0090 Day US Treasury Bill 0.05 0.02 - 0.00 0.03 9.21 -2.01 30.56 0.13 -0.34
Over Under Sep-2010 Jun-2015
-15.0
0.0
15.0
30.0
45.0
Vang
uard
Mid
Cap
Inde
x In
st (V
MCI
X) (%
)
-15.0 0.0 15.0 30.0 45.0
Vanguard Mid Cap Spliced Index (%)
OverPerformance
UnderPerformance
Vanguard Mid Cap Index Inst (VMCIX) Vanguard Mid Cap Spliced Index
0
25
50
75
100
Retu
rn Pe
rcen
tile
Rank
9/10 6/11 3/12 12/12 9/13 6/14 6/15
Vanguard Mid Cap Index Inst (VMCIX)
0
25
50
75
100
Trac
king
Erro
r Pe
rcen
tile
Rank
9/10 6/11 3/12 12/12 9/13 6/14 6/15
Vanguard Mid Cap Index Inst (VMCIX) June 30, 2015
* 5 Year look back, if 5 years is not available, a since inception time period is used.
5.14
Product Name : Vanguard Md-Cp Idx;Inst (VMCIX)Fund Family : Vanguard Group IncTicker : VMCIXPeer Group : IM U.S. Mid Cap Core Equity (MF)Benchmark : Vanguard Mid Cap Spliced IndexFund Inception : 05/20/1998Portfolio Manager : Donald M. ButlerTotal Assets : $12,661 MillionTotal Assets Date : 05/31/2015Total Fee : 0.31%Turnover : 11%
The Fund seeks to track the performance of a benchmark indexthat measures the investment return of mid-capitalizationstocks. The Fund employs a "passive management" approachdesigned to track the performance of the CRSP US Mid CapIndex, a broadly diversified index of stocks of medium-size U.S.companies.
Mutual Fund Details Relative Performance *
Individual Portfolio Statistics - 3 Years
Style Analysis - 3 Years
3 Year Rolling Under/Over Performance * 3 Yr Rolling Percentile Ranking (Return) *
Fund Objective
3 Year Rolling Percentile Ranking (Tracking Error) *
Cumulative Annualized Relative Performance Over/Under Performance
0.00
0.06
0.12
0.18
-0.06
-0.12Re
turn
(%)
7/10 1/11 7/11 1/12 7/12 1/13 7/13 1/14 7/14 1/15 6/15
Style History Jun-2015 Avg. Exposure
Capi
taliz
atio
n
Manager Style
Large Cap Growth
Small Cap GrowthSmall Cap Value
Large Cap Value
Return StandardDeviation
SharpeRatio Beta R-Squared Tracking
ErrorInformation
Ratio Consistency UpCapture
DownCapture
Vanguard Small Cap Index Inst (VSCIX) 18.74 10.85 1.64 1.00 1.00 0.08 0.42 61.11 100.17 100.14Vanguard Small Cap Spliced Index 18.71 10.83 1.64 1.00 1.00 0.00 - 0.00 100.00 100.0090 Day US Treasury Bill 0.05 0.02 - 0.00 0.02 10.83 -1.64 33.33 0.12 -0.26
Over Sep-2010 Jun-2015
-15.0
0.0
15.0
30.0
45.0
Vang
uard
Smal
l
Cap
Inde
x In
st (V
SCIX
) (%
)
-15.0 0.0 15.0 30.0 45.0
Vanguard Small Cap Spliced Index (%)
OverPerformance
UnderPerformance
Vanguard Small Cap Index Inst (VSCIX) Vanguard Small Cap Spliced Index
0
25
50
75
100
Retu
rn Pe
rcen
tile
Rank
9/10 6/11 3/12 12/12 9/13 6/14 6/15
Vanguard Small Cap Index Inst (VSCIX)
0
25
50
75
100
Trac
king
Erro
r Pe
rcen
tile
Rank
9/10 6/11 3/12 12/12 9/13 6/14 6/15
Vanguard Small Cap Index Inst (VSCIX) June 30, 2015
* 5 Year look back, if 5 years is not available, a since inception time period is used.
5.15
Product Name : Vanguard Sm-Cp Idx;Inst (VSCIX)Fund Family : Vanguard Group IncTicker : VSCIXPeer Group : IM U.S. Small Cap Core Equity (MF)Benchmark : Vanguard Small Cap Spliced IndexFund Inception : 07/07/1997Portfolio Manager : Michael H. BuekTotal Assets : $10,900 MillionTotal Assets Date : 05/31/2015Total Fee : 0.31%Turnover : 10%
The Fund seeks to track the performance of a benchmark indexthat measures the investment return of small-capitalizationstocks. The Fund employs an indexing investment approachdesigned to track the performance of the CRSP US Small CapIndex, a broadly diversified index of stocks of small U.S.companies.
Mutual Fund Details Relative Performance *
Individual Portfolio Statistics - 3 Years
Style Analysis - 3 Years
3 Year Rolling Under/Over Performance * 3 Yr Rolling Percentile Ranking (Return) *
Fund Objective
3 Year Rolling Percentile Ranking (Tracking Error) *
Cumulative Annualized Relative Performance Over/Under Performance
0.00
3.00
6.00
9.00
-3.00
-6.00Re
turn
(%)
7/10 1/11 7/11 1/12 7/12 1/13 7/13 1/14 7/14 1/15 6/15
Style History Jun-2015 Avg. Exposure
Capi
taliz
atio
n
Manager Style
MSCI EAFE Growth Index
MSCI EAFE Small Cap GrowthMSCI EAFE Small Cap Value
MSCI EAFE Value Index
The Fund seeks capital appreciation by investing primarily ingrowth-type foreign companies, including emerging markets.
Return StandardDeviation
SharpeRatio Beta R-Squared Tracking
ErrorInformation
Ratio Consistency UpCapture
DownCapture
Oppenheimer International Growth I (OIGIX) 13.05 10.40 1.23 0.93 0.87 3.88 0.25 61.11 96.37 81.65MSCI EAFE Index (Net) 11.97 10.38 1.14 1.00 1.00 0.00 - 0.00 100.00 100.0090 Day US Treasury Bill 0.05 0.02 - 0.00 0.00 10.38 -1.14 38.89 0.18 -0.16
Over Sep-2010 Jun-2015
-15.0
0.0
15.0
30.0
ppen
heim
er In
tern
atio
nal
G
row
th I
(O
IGIX
) (%
-15.0 0.0 15.0 30.0
MSCI EAFE Index (Net) (%)
OverPerformance
UnderPerformance
Oppenheimer International Growth I (OIGIX)
MSCI EAFE Index (Net)
0
25
50
75
100
Retu
rn Pe
rcen
tile
Rank
9/10 6/11 3/12 12/12 9/13 6/14 6/15
Oppenheimer International Growth I (OIGIX)
0
25
50
75
100Tr
acki
ng Er
ror
Perc
entil
e Ra
nk9/10 6/11 3/12 12/12 9/13 6/14 6/15
Oppenheimer International Growth I (OIGIX) June 30, 2015
* 5 Year look back, if 5 years is not available, a since inception time period is used.5.16
Product Name : Oppenheimer Intl Gro;I (OIGIX)Fund Family : OppenheimerFunds IncTicker : OIGIXPeer Group : IM International Large Cap Equity (MF)Benchmark : MSCI EAFE Index (Net)Fund Inception : 03/29/2012Portfolio Manager : Evans/DunphyTotal Assets : $4,169 MillionTotal Assets Date : 06/30/2015Total Fee : 0.93%Turnover : 12%
Mutual Fund Details Relative Performance *
Individual Portfolio Statistics - 3 Years
Style Analysis - 3 Years
3 Year Rolling Under/Over Performance * 3 Yr Rolling Percentile Ranking (Return) *
Fund Objective
3 Year Rolling Percentile Ranking (Tracking Error) *
Cumulative Annualized Relative Performance Over/Under Performance
0.00
2.00
4.00
6.00
-2.00
-4.00Re
turn
(%)
7/10 1/11 7/11 1/12 7/12 1/13 7/13 1/14 7/14 1/15 6/15
Style History Jun-2015 Avg. Exposure
Capi
taliz
atio
n
Manager Style
MSCI EAFE Growth Index
MSCI EAFE Small Cap GrowthMSCI EAFE Small Cap Value
MSCI EAFE Value Index
The Fund seeks to track the performance of the FTSE EmergingIndex, that measures the return of stocks issued by companieslocated in emerging market countries.
Return StandardDeviation
SharpeRatio Beta R-Squared Tracking
ErrorInformation
Ratio Consistency UpCapture
DownCapture
Vanguard Emerging Mkts Stock Index Admiral (VEMAX) 4.13 12.95 0.37 1.02 0.99 1.58 -0.28 47.22 99.37 101.98Vanguard Spliced Emg Mkts Idx 4.63 12.63 0.42 1.00 1.00 0.00 - 0.00 100.00 100.0090 Day US Treasury Bill 0.05 0.02 - 0.00 0.00 12.63 -0.42 44.44 0.15 -0.15
Over Under Sep-2010 Jun-2015
-10.0
0.0
10.0
20.0
30.0
40.0
ard
Emer
ging
Mkt
s St
ock
Inde
x Ad
mira
l
(VEM
A
-10.0 0.0 10.0 20.0 30.0 40.0
Vanguard Spliced Emg Mkts Idx (%)
OverPerformance
UnderPerformance
Vanguard Emerging Mkts Stock Index Admiral (VEMAX)
Vanguard Spliced Emg Mkts Idx
0
25
50
75
100
Retu
rn Pe
rcen
tile
Rank
9/10 6/11 3/12 12/12 9/13 6/14 6/15
Vanguard Emerging Mkts Stock Index Admiral (VEMAX)
0
25
50
75
100
Trac
king
Erro
r Pe
rcen
tile
Rank
9/10 6/11 3/12 12/12 9/13 6/14 6/15
Vanguard Emerging Mkts Stock Index Admiral (VEMAX) June 30, 2015
* 5 Year look back, if 5 years is not available, a since inception time period is used.
5.17
Product Name : Vanguard EM St Idx;Sig (VERSX)Fund Family : Vanguard Group IncTicker : VERSXPeer Group : IM Emerging Markets Equity (MF)Benchmark : Vanguard Spliced Emg Mkts IdxFund Inception : 01/19/2007Portfolio Manager : Michael PerreTotal Assets : $762 MillionTotal Assets Date : 09/30/2014Total Fee : 0.38%Turnover : 26%
Mutual Fund Details Relative Performance *
Individual Portfolio Statistics - 3 Years
Asset Allocation
3 Year Rolling Under/Over Performance * 3 Year Rolling Percentile Ranking (Return) *
Fund Objective
3 Year Rolling Percentile Ranking (Tracking Error) *
Cumulative Annualized Relative Performance Over/Under Performance
0.00
2.00
4.00
6.00
-2.00
-4.00Re
turn
(%)
7/10 1/11 7/11 1/12 7/12 1/13 7/13 1/14 7/14 1/15 6/15
0.00% 50.00% 100.00%-50.00 %
Cash
Other
Convertibles
Fixed Income
Equities
-1.75 %
0.00%
0.00%
38.05%
63.70%
The Fund seeks to provide conservation of capital, currentincome, and long-term growth of both capital and income. TheFund invests in a broad range of securities, including commonstocks and investment-grade bonds. The Fund also invests insecurities issued and guaranteed by the U.S. government.
Return StandardDeviation
SharpeRatio Beta R-Squared Tracking
ErrorInformation
Ratio Consistency UpCapture
DownCapture
Amer Funds American Balanced R6 (RLBGX) 12.53 6.09 1.97 1.15 0.95 1.56 0.93 58.33 116.24 123.3460% S&P 500 / 40% Barclays Aggregate 10.98 5.15 2.04 1.00 1.00 0.00 - 0.00 100.00 100.0090 Day US Treasury Bill 0.05 0.02 - 0.00 0.04 5.16 -2.04 27.78 0.27 -0.38
Over Under Sep-2010 Jun-2015
-8.0
0.0
8.0
16.0
24.0
mer
Fund
s Am
eric
an Ba
lanc
ed R6
(RLB
GX)
(%
-8.0 0.0 8.0 16.0 24.0
60% S&P 500 / 40% Barclays Aggregate (%)
OverPerformance
UnderPerformance
Amer Funds American Balanced R6 (RLBGX)
60% S&P 500 / 40% Barclays Aggregate
0
25
50
75
100
Retu
rn Pe
rcen
tile
Rank
9/10 6/11 3/12 12/12 9/13 6/14 6/15
Amer Funds American Balanced R6 (RLBGX)
0
25
50
75
100Tr
acki
ng Er
ror
Perc
entil
e Ra
nk9/10 6/11 3/12 12/12 9/13 6/14 6/15
Amer Funds American Balanced R6 (RLBGX) June 30, 2015
* 5 Year look back, if 5 years is not available, a since inception time period is used.5.18
Product Name : American Funds Bal;R-6 (RLBGX)Fund Family : American FundsTicker : RLBGXPeer Group : IM Mixed-Asset Tgt Alloc ModerateBenchmark : 60% S&P 500 / 40% Barclays AggregateFund Inception : 05/01/2009Portfolio Manager : Team ManagedTotal Assets : $6,353 MillionTotal Assets Date : 06/30/2015Total Fee : 0.52%Turnover : 68%
Mutual Fund Details Relative Performance - 02/01/12 to 06/30/15
Individual Portfolio Statistics - 07/01/13 to 06/30/15
Top Ten Holdings
1 Qtr Rolling Under/Over Performance * 1 Qtr Rolling Percentile Ranking (Return) *
Fund Objective
1 Qtr Rolling Percentile Ranking (Tracking Error) *
Cumulative Annualized Relative Performance Over/Under Performance
0.00
0.20
0.40
-0.20
-0.40Re
turn
(%)
2/12 8/12 2/13 8/13 2/14 8/14 2/15 6/15
Vanguard Total Stock Market Index Fund;Investor 61.83 %Vanguard Total International Stock Index Fund;Inv 27.85 %Vanguard Total Bond Market II Index Fund;Investor 7.07 %Vanguard Total International Bond Index Fund;Inv 3.00 %Vanguard Market Liquidity Fund 0.60 %
The Fund seeks capital appreciation and current incomeconsistent with its current asset allocation. The Fund is a fund-of-funds with the asset allocation becoming more conservativeover time. The allocation strategy designed is for investorsplanning to retire in or within a few years of 2060.
Return StandardDeviation
SharpeRatio Beta R-Squared Tracking
ErrorInformation
Ratio Consistency UpCapture
DownCapture
InceptionDate
Vanguard Target Retirement 2060 Inv (VTTSX) 12.30 8.41 1.42 1.02 1.00 0.32 -0.87 45.83 100.23 104.47 02/01/2012Vanguard Target 2060 Composite Index 12.62 8.27 1.48 1.00 1.00 0.00 - 0.00 100.00 100.00 02/01/201290 Day US Treasury Bill 0.04 0.01 - 0.00 0.14 8.27 -1.48 33.33 0.10 -0.23 02/01/2012
Over Under Jul-2013 Jun-2015
-4.0
0.0
4.0
8.0
12.0
ngua
rd Ta
rget
Retir
emen
t 20
60 In
v (V
TTSX
) (%
-4.0 0.0 4.0 8.0 12.0
Vanguard Target 2060 Composite Index (%)
OverPerformance
UnderPerformance
Vanguard Target Retirement 2060 Inv (VTTSX)
Vanguard Target 2060 Composite Index
0
25
50
75
100
Retu
rn Pe
rcen
tile
Rank
7/13 10/13 1/14 4/14 7/14 10/14 1/15 4/15 6/15
Vanguard Target Retirement 2060 Inv (VTTSX)
0
25
50
75
100Tr
acki
ng Er
ror
Perc
entil
e Ra
nk7/13 10/13 1/14 4/14 7/14 10/14 1/15 4/15 6/15
Vanguard Target Retirement 2060 Inv (VTTSX) June 30, 2015
* 2 Year look back.5.19
Product Name : Vanguard Tgt Ret2060;Inv (VTTSX)Fund Family : Vanguard Group IncTicker : VTTSXPeer Group : IM Mixed-Asset Target 2055+ (MF)Benchmark : Vanguard Target 2060 Composite IndexFund Inception : 01/19/2012Portfolio Manager : Buek/Coleman/NejmanTotal Assets : $762 MillionTotal Assets Date : 05/31/2015Total Fee : 0.41%Turnover : 11%
Mutual Fund Details Relative Performance *
Individual Portfolio Statistics - 3 Years
Top Ten Holdings
3 Year Rolling Under/Over Performance * 3 Year Rolling Percentile Ranking (Return) *
Fund Objective
3 Year Rolling Percentile Ranking (Tracking Error) *
Cumulative Annualized Relative Performance Over/Under Performance
0.00
0.40
0.80
1.20
-0.40
-0.80Re
turn
(%)
9/10 3/11 9/11 3/12 9/12 3/13 9/13 3/14 9/14 6/15
Vanguard Total Stock Market Index Fund;Investor 62.76 %Vanguard Total International Stock Index Fund;Inv 27.15 %Vanguard Total Bond Market II Index Fund;Investor 8.13 %Vanguard Total International Bond Index Fund;Inv 1.93 %Vanguard Market Liquidity Fund 0.21 %
The Fund seeks capital appreciation and current incomeconsistent with its current asset allocation. The Fund is a fund-of-funds with the asset allocation becoming more conservativeover time. The allocation strategy designed is for investorsplanning to retire in or within a few years of 2055.
Return StandardDeviation
SharpeRatio Beta R-Squared Tracking
ErrorInformation
Ratio Consistency UpCapture
DownCapture
Vanguard Target Retirement 2055 Inv (VFFVX) 13.79 7.62 1.74 1.01 1.00 0.38 -0.78 44.44 99.33 102.84Vanguard Target 2055 Composite Index 14.14 7.54 1.79 1.00 1.00 0.00 - 0.00 100.00 100.0090 Day US Treasury Bill 0.05 0.02 - 0.00 0.02 7.54 -1.79 27.78 0.20 -0.24
Under Sep-2013 Jun-2015
9.0
12.0
15.0
18.0
21.0
ngua
rd Ta
rget
Retir
emen
t 20
55 In
v (V
FFVX
) (%
9.0 12.0 15.0 18.0 21.0
Vanguard Target 2055 Composite Index (%)
OverPerformance
UnderPerformance
Vanguard Target Retirement 2055 Inv (VFFVX)
Vanguard Target 2055 Composite Index
0
25
50
75
100
Retu
rn Pe
rcen
tile
Rank
9/10 6/11 3/12 12/12 9/13 6/14 6/15
Vanguard Target Retirement 2055 Inv (VFFVX)
0
25
50
75
100Tr
acki
ng Er
ror
Perc
entil
e Ra
nk9/10 6/11 3/12 12/12 9/13 6/14 6/15
Vanguard Target Retirement 2055 Inv (VFFVX) June 30, 2015
* 5 Year look back, if 5 years is not available, a since inception time period is used.5.20
Product Name : Vanguard Tgt Ret2055;Inv (VFFVX)Fund Family : Vanguard Group IncTicker : VFFVXPeer Group : IM Mixed-Asset Target 2055+ (MF)Benchmark : Vanguard Target 2055 Composite IndexFund Inception : 08/18/2010Portfolio Manager : Buek/Coleman/NejmanTotal Assets : $2,476 MillionTotal Assets Date : 05/31/2015Total Fee : 0.41%Turnover : 7%
Mutual Fund Details Relative Performance *
Individual Portfolio Statistics - 3 Years
Top Ten Holdings
3 Year Rolling Under/Over Performance * 3 Year Rolling Percentile Ranking (Return) *
Fund Objective
3 Year Rolling Percentile Ranking (Tracking Error) *
Cumulative Annualized Relative Performance Over/Under Performance
0.00
0.40
0.80
1.20
-0.40
-0.80Re
turn
(%)
7/10 1/11 7/11 1/12 7/12 1/13 7/13 1/14 7/14 1/15 6/15
Vanguard Total Stock Market Index Fund;Investor 61.94 %Vanguard Total International Stock Index Fund;Inv 27.85 %Vanguard Total Bond Market II Index Fund;Investor 7.82 %Vanguard Total International Bond Index Fund;Inv 2.21 %
The Fund seeks capital appreciation and current incomeconsistent with its current asset allocation. The Fund is a fund-of-funds with the asset allocation becoming more conservativeover time. The allocation strategy designed is for investorsplanning to retire in or within a few years of 2050.
Return StandardDeviation
SharpeRatio Beta R-Squared Tracking
ErrorInformation
Ratio Consistency UpCapture
DownCapture
Vanguard Target Retirement 2050 Inv (VFIFX) 13.81 7.62 1.74 1.01 1.00 0.39 -0.73 44.44 99.40 102.84Vanguard Target 2050 Composite Index 14.14 7.54 1.79 1.00 1.00 0.00 - 0.00 100.00 100.0090 Day US Treasury Bill 0.05 0.02 - 0.00 0.02 7.54 -1.79 27.78 0.20 -0.24
Over Under Sep-2010 Jun-2015
-10.0
0.0
10.0
20.0
30.0
angu
ard
Targ
et Re
tirem
ent
2050
Inv
(VFI
FX)
(%
-10.0 0.0 10.0 20.0 30.0
Vanguard Target 2050 Composite Index (%)
OverPerformance
UnderPerformance
Vanguard Target Retirement 2050 Inv (VFIFX)
Vanguard Target 2050 Composite Index
0
25
50
75
100
Retu
rn Pe
rcen
tile
Rank
9/10 6/11 3/12 12/12 9/13 6/14 6/15
Vanguard Target Retirement 2050 Inv (VFIFX)
0
25
50
75
100Tr
acki
ng Er
ror
Perc
entil
e Ra
nk9/10 6/11 3/12 12/12 9/13 6/14 6/15
Vanguard Target Retirement 2050 Inv (VFIFX) June 30, 2015
* 5 Year look back, if 5 years is not available, a since inception time period is used.5.21
Product Name : Vanguard Tgt Ret2050;Inv (VFIFX)Fund Family : Vanguard Group IncTicker : VFIFXPeer Group : IM Mixed-Asset Target 2050 (MF)Benchmark : Vanguard Target 2050 Composite IndexFund Inception : 06/07/2006Portfolio Manager : Buek/Coleman/NejmanTotal Assets : $9,087 MillionTotal Assets Date : 05/31/2015Total Fee : 0.41%Turnover : 7%
Mutual Fund Details Relative Performance *
Individual Portfolio Statistics - 3 Years
Top Ten Holdings
3 Year Rolling Under/Over Performance * 3 Year Rolling Percentile Ranking (Return) *
Fund Objective
3 Year Rolling Percentile Ranking (Tracking Error) *
Cumulative Annualized Relative Performance Over/Under Performance
0.00
0.40
0.80
1.20
-0.40
-0.80Re
turn
(%)
7/10 1/11 7/11 1/12 7/12 1/13 7/13 1/14 7/14 1/15 6/15
Vanguard Total Stock Market Index Fund;Investor 62.19 %Vanguard Total International Stock Index Fund;Inv 27.55 %Vanguard Total Bond Market II Index Fund;Investor 7.94 %Vanguard Total International Bond Index Fund;Inv 2.17 %
The Fund seeks capital appreciation and current incomeconsistent with its current asset allocation. The Fund is a fund-of-funds with the asset allocation becoming more conservativeover time. The allocation strategy designed is for investorsplanning to retire in or within a few years of 2045.
Return StandardDeviation
SharpeRatio Beta R-Squared Tracking
ErrorInformation
Ratio Consistency UpCapture
DownCapture
Vanguard Target Retirement 2045 Inv (VTIVX) 13.80 7.63 1.73 1.01 1.00 0.39 -0.73 47.22 99.32 102.67Vanguard Target 2045 Composite Index 14.14 7.54 1.79 1.00 1.00 0.00 - 0.00 100.00 100.0090 Day US Treasury Bill 0.05 0.02 - 0.00 0.02 7.54 -1.79 27.78 0.20 -0.24
Over Under Sep-2010 Jun-2015
-10.0
0.0
10.0
20.0
30.0
angu
ard
Targ
et Re
tirem
ent
2045
Inv
(VTI
VX)
(%
-10.0 0.0 10.0 20.0 30.0
Vanguard Target 2045 Composite Index (%)
OverPerformance
UnderPerformance
Vanguard Target Retirement 2045 Inv (VTIVX)
Vanguard Target 2045 Composite Index
0
25
50
75
100
Retu
rn Pe
rcen
tile
Rank
9/10 6/11 3/12 12/12 9/13 6/14 6/15
Vanguard Target Retirement 2045 Inv (VTIVX)
0
25
50
75
100Tr
acki
ng Er
ror
Perc
entil
e Ra
nk9/10 6/11 3/12 12/12 9/13 6/14 6/15
Vanguard Target Retirement 2045 Inv (VTIVX) June 30, 2015
* 5 Year look back, if 5 years is not available, a since inception time period is used.5.22
Product Name : Vanguard Tgt Ret2045;Inv (VTIVX)Fund Family : Vanguard Group IncTicker : VTIVXPeer Group : IM Mixed-Asset Target 2045 (MF)Benchmark : Vanguard Target 2045 Composite IndexFund Inception : 10/27/2003Portfolio Manager : Buek/Coleman/NejmanTotal Assets : $17,123 MillionTotal Assets Date : 05/31/2015Total Fee : 0.41%Turnover : 7%
Mutual Fund Details Relative Performance *
Individual Portfolio Statistics - 3 Years
Top Ten Holdings
3 Year Rolling Under/Over Performance * 3 Year Rolling Percentile Ranking (Return) *
Fund Objective
3 Year Rolling Percentile Ranking (Tracking Error) *
Cumulative Annualized Relative Performance Over/Under Performance
0.00
0.40
0.80
1.20
-0.40
-0.80Re
turn
(%)
7/10 1/11 7/11 1/12 7/12 1/13 7/13 1/14 7/14 1/15 6/15
Vanguard Total Stock Market Index Fund;Investor 62.15 %Vanguard Total International Stock Index Fund;Inv 27.62 %Vanguard Total Bond Market II Index Fund;Investor 7.92 %Vanguard Total International Bond Index Fund;Inv 2.20 %
The Fund seeks capital appreciation and current incomeconsistent with its current asset allocation. The Fund is a fund-of-funds with the asset allocation becoming more conservativeover time. The allocation strategy designed is for investorsplanning to retire in or within a few years of 2040.
Return StandardDeviation
SharpeRatio Beta R-Squared Tracking
ErrorInformation
Ratio Consistency UpCapture
DownCapture
Vanguard Target Retirement 2040 Inv (VFORX) 13.82 7.63 1.74 1.01 1.00 0.39 -0.70 41.67 99.43 102.75Vanguard Target 2040 Composite Index 14.14 7.54 1.79 1.00 1.00 0.00 - 0.00 100.00 100.0090 Day US Treasury Bill 0.05 0.02 - 0.00 0.02 7.54 -1.79 27.78 0.20 -0.24
Over Under Sep-2010 Jun-2015
-10.0
0.0
10.0
20.0
30.0
ngua
rd Ta
rget
Retir
emen
t
2040
Inv
(VFO
RX)
(
-10.0 0.0 10.0 20.0 30.0
Vanguard Target 2040 Composite Index (%)
OverPerformance
UnderPerformance
Vanguard Target Retirement 2040 Inv (VFORX)
Vanguard Target 2040 Composite Index
0
25
50
75
100
Retu
rn Pe
rcen
tile
Rank
9/10 6/11 3/12 12/12 9/13 6/14 6/15
Vanguard Target Retirement 2040 Inv (VFORX)
0
25
50
75
100Tr
acki
ng Er
ror
Perc
entil
e Ra
nk9/10 6/11 3/12 12/12 9/13 6/14 6/15
Vanguard Target Retirement 2040 Inv (VFORX) June 30, 2015
* 5 Year look back, if 5 years is not available, a since inception time period is used.5.23
Product Name : Vanguard Tgt Ret2040;Inv (VFORX)Fund Family : Vanguard Group IncTicker : VFORXPeer Group : IM Mixed-Asset Target 2040 (MF)Benchmark : Vanguard Target 2040 Composite IndexFund Inception : 06/07/2006Portfolio Manager : Buek/Coleman/NejmanTotal Assets : $18,969 MillionTotal Assets Date : 05/31/2015Total Fee : 0.41%Turnover : 6%
Mutual Fund Details Relative Performance *
Individual Portfolio Statistics - 3 Years
Top Ten Holdings
3 Year Rolling Under/Over Performance * 3 Year Rolling Percentile Ranking (Return) *
Fund Objective
3 Year Rolling Percentile Ranking (Tracking Error) *
Cumulative Annualized Relative Performance Over/Under Performance
0.00
0.30
0.60
0.90
-0.30
-0.60
-0.90Re
turn
(%)
7/10 1/11 7/11 1/12 7/12 1/13 7/13 1/14 7/14 1/15 6/15
Vanguard Total Stock Market Index Fund;Investor 57.35 %Vanguard Total International Stock Index Fund;Inv 24.91 %Vanguard Total Bond Market II Index Fund;Investor 13.51 %Vanguard Total International Bond Index Fund;Inv 4.12 %
The Fund seeks capital appreciation and current incomeconsistent with its current asset allocation. The Fund is a fund-of-funds with the asset allocation becoming more conservativeover time. The allocation strategy designed is for investorsplanning to retire in or within a few years of 2035.
Return StandardDeviation
SharpeRatio Beta R-Squared Tracking
ErrorInformation
Ratio Consistency UpCapture
DownCapture
Vanguard Target Retirement 2035 Inv (VTTHX) 13.21 7.16 1.77 1.01 1.00 0.39 -0.66 41.67 99.39 102.61Vanguard Target 2035 Composite Index 13.50 7.09 1.82 1.00 1.00 0.00 - 0.00 100.00 100.0090 Day US Treasury Bill 0.05 0.02 - 0.00 0.02 7.09 -1.82 27.78 0.21 -0.26
Over Under Sep-2010 Jun-2015
-10.0
0.0
10.0
20.0
30.0
ngua
rd Ta
rget
Retir
emen
t 20
35 In
v (V
TTH
X) (
-10.0 0.0 10.0 20.0 30.0
Vanguard Target 2035 Composite Index (%)
OverPerformance
UnderPerformance
Vanguard Target Retirement 2035 Inv (VTTHX)
Vanguard Target 2035 Composite Index
0
25
50
75
100
Retu
rn Pe
rcen
tile
Rank
9/10 6/11 3/12 12/12 9/13 6/14 6/15
Vanguard Target Retirement 2035 Inv (VTTHX)
0
25
50
75
100Tr
acki
ng Er
ror
Perc
entil
e Ra
nk9/10 6/11 3/12 12/12 9/13 6/14 6/15
Vanguard Target Retirement 2035 Inv (VTTHX) June 30, 2015
* 5 Year look back, if 5 years is not available, a since inception time period is used.5.24
Product Name : Vanguard Tgt Ret2035;Inv (VTTHX)Fund Family : Vanguard Group IncTicker : VTTHXPeer Group : IM Mixed-Asset Target 2035 (MF)Benchmark : Vanguard Target 2035 Composite IndexFund Inception : 10/27/2003Portfolio Manager : Buek/Coleman/NejmanTotal Assets : $27,489 MillionTotal Assets Date : 05/31/2015Total Fee : 0.41%Turnover : 6%
Mutual Fund Details Relative Performance *
Individual Portfolio Statistics - 3 Years
Top Ten Holdings
3 Year Rolling Under/Over Performance * 3 Year Rolling Percentile Ranking (Return) *
Fund Objective
3 Year Rolling Percentile Ranking (Tracking Error) *
Cumulative Annualized Relative Performance Over/Under Performance
0.00
0.30
0.60
0.90
-0.30
-0.60Re
turn
(%)
7/10 1/11 7/11 1/12 7/12 1/13 7/13 1/14 7/14 1/15 6/15
Vanguard Total Stock Market Index Fund;Investor 52.11 %Vanguard Total International Stock Index Fund;Inv 22.66 %Vanguard Total Bond Market II Index Fund;Investor 19.34 %Vanguard Total International Bond Index Fund;Inv 5.82 %
The Fund seeks capital appreciation and current incomeconsistent with its current asset allocation. The Fund is a fund-of-funds with the asset allocation becoming more conservativeover time. The allocation strategy designed is for investorsplanning to retire in or within a few years of 2030.
Return StandardDeviation
SharpeRatio Beta R-Squared Tracking
ErrorInformation
Ratio Consistency UpCapture
DownCapture
Vanguard Target Retirement 2030 Inv (VTHRX) 12.20 6.54 1.79 1.01 1.00 0.33 -0.77 41.67 99.23 102.42Vanguard Target 2030 Composite Index 12.48 6.49 1.85 1.00 1.00 0.00 - 0.00 100.00 100.0090 Day US Treasury Bill 0.05 0.02 - 0.00 0.02 6.49 -1.85 27.78 0.23 -0.29
Over Under Sep-2010 Jun-2015
-10.0
0.0
10.0
20.0
30.0
ngua
rd Ta
rget
Retir
emen
t
2030
Inv
(VTH
RX)
(
-10.0 0.0 10.0 20.0 30.0
Vanguard Target 2030 Composite Index (%)
OverPerformance
UnderPerformance
Vanguard Target Retirement 2030 Inv (VTHRX)
Vanguard Target 2030 Composite Index
0
25
50
75
100
Retu
rn Pe
rcen
tile
Rank
9/10 6/11 3/12 12/12 9/13 6/14 6/15
Vanguard Target Retirement 2030 Inv (VTHRX)
0
25
50
75
100Tr
acki
ng Er
ror
Perc
entil
e Ra
nk9/10 6/11 3/12 12/12 9/13 6/14 6/15
Vanguard Target Retirement 2030 Inv (VTHRX) June 30, 2015
* 5 Year look back, if 5 years is not available, a since inception time period is used.5.25
Product Name : Vanguard Tgt Ret2030;Inv (VTHRX)Fund Family : Vanguard Group IncTicker : VTHRXPeer Group : IM Mixed-Asset Target 2030 (MF)Benchmark : Vanguard Target 2030 Composite IndexFund Inception : 06/07/2006Portfolio Manager : Buek/Coleman/NejmanTotal Assets : $27,117 MillionTotal Assets Date : 05/31/2015Total Fee : 0.40%Turnover : 7%
Mutual Fund Details Relative Performance *
Individual Portfolio Statistics - 3 Years
Top Ten Holdings
3 Year Rolling Under/Over Performance * 3 Year Rolling Percentile Ranking (Return) *
Fund Objective
3 Year Rolling Percentile Ranking (Tracking Error) *
Cumulative Annualized Relative Performance Over/Under Performance
0.00
0.30
0.60
-0.30
-0.60Re
turn
(%)
7/10 1/11 7/11 1/12 7/12 1/13 7/13 1/14 7/14 1/15 6/15
Vanguard Total Stock Market Index Fund;Investor 46.92 %Vanguard Total Bond Market II Index Fund;Investor 25.41 %Vanguard Total International Stock Index Fund;Inv 20.43 %Vanguard Total International Bond Index Fund;Inv 7.13 %
The Fund seeks capital appreciation and current incomeconsistent with its current asset allocation. The Fund is a fund-of-funds with the asset allocation becoming more conservativeover time. The allocation strategy designed is for investorsplanning to retire in or within a few years of 2025.
Return StandardDeviation
SharpeRatio Beta R-Squared Tracking
ErrorInformation
Ratio Consistency UpCapture
DownCapture
Vanguard Target Retirement 2025 Inv (VTTVX) 11.18 5.98 1.80 1.01 1.00 0.34 -0.78 38.89 99.29 103.46Vanguard Target 2025 Composite Index 11.47 5.90 1.87 1.00 1.00 0.00 - 0.00 100.00 100.0090 Day US Treasury Bill 0.05 0.02 - 0.00 0.01 5.90 -1.87 27.78 0.25 -0.32
Over Under Sep-2010 Jun-2015
-8.0
0.0
8.0
16.0
24.0
ngua
rd Ta
rget
Retir
emen
t 20
25 In
v (V
TTVX
) (%
-8.0 0.0 8.0 16.0 24.0
Vanguard Target 2025 Composite Index (%)
OverPerformance
UnderPerformance
Vanguard Target Retirement 2025 Inv (VTTVX)
Vanguard Target 2025 Composite Index
0
25
50
75
100
Retu
rn Pe
rcen
tile
Rank
9/10 6/11 3/12 12/12 9/13 6/14 6/15
Vanguard Target Retirement 2025 Inv (VTTVX)
0
25
50
75
100Tr
acki
ng Er
ror
Perc
entil
e Ra
nk9/10 6/11 3/12 12/12 9/13 6/14 6/15
Vanguard Target Retirement 2025 Inv (VTTVX) June 30, 2015
* 5 Year look back, if 5 years is not available, a since inception time period is used.5.26
Product Name : Vanguard Tgt Ret2025;Inv (VTTVX)Fund Family : Vanguard Group IncTicker : VTTVXPeer Group : IM Mixed-Asset Target 2025 (MF)Benchmark : Vanguard Target 2025 Composite IndexFund Inception : 10/27/2003Portfolio Manager : Buek/Coleman/NejmanTotal Assets : $35,917 MillionTotal Assets Date : 05/31/2015Total Fee : 0.40%Turnover : 7%
Mutual Fund Details Relative Performance *
Individual Portfolio Statistics - 3 Years
Top Ten Holdings
3 Year Rolling Under/Over Performance * 3 Year Rolling Percentile Ranking (Return) *
Fund Objective
3 Year Rolling Percentile Ranking (Tracking Error) *
Cumulative Annualized Relative Performance Over/Under Performance
0.00
0.30
0.60
-0.30
-0.60Re
turn
(%)
7/10 1/11 7/11 1/12 7/12 1/13 7/13 1/14 7/14 1/15 6/15
Vanguard Total Stock Market Index Fund;Investor 41.85 %Vanguard Total Bond Market II Index Fund;Investor 31.30 %Vanguard Total International Stock Index Fund;Inv 18.14 %Vanguard Total International Bond Index Fund;Inv 8.65 %
The Fund seeks capital appreciation and current incomeconsistent with its current asset allocation. The Fund is a fund-of-funds with the asset allocation becoming more conservativeover time. The allocation strategy designed is for investorsplanning to retire in or within a few years of 2020.
Return StandardDeviation
SharpeRatio Beta R-Squared Tracking
ErrorInformation
Ratio Consistency UpCapture
DownCapture
Vanguard Target Retirement 2020 Inv (VTWNX) 10.19 5.37 1.83 1.01 1.00 0.30 -0.83 33.33 99.17 103.31Vanguard Target 2020 Composite Index 10.46 5.33 1.89 1.00 1.00 0.00 - 0.00 100.00 100.0090 Day US Treasury Bill 0.05 0.02 - 0.00 0.01 5.33 -1.89 30.56 0.26 -0.42
Over Under Sep-2010 Jun-2015
-8.0
0.0
8.0
16.0
24.0
ngua
rd Ta
rget
Retir
emen
t 20
20 In
v (V
TWN
X) (
-8.0 0.0 8.0 16.0 24.0
Vanguard Target 2020 Composite Index (%)
OverPerformance
UnderPerformance
Vanguard Target Retirement 2020 Inv (VTWNX)
Vanguard Target 2020 Composite Index
0
25
50
75
100
Retu
rn Pe
rcen
tile
Rank
9/10 6/11 3/12 12/12 9/13 6/14 6/15
Vanguard Target Retirement 2020 Inv (VTWNX)
0
25
50
75
100Tr
acki
ng Er
ror
Perc
entil
e Ra
nk9/10 6/11 3/12 12/12 9/13 6/14 6/15
Vanguard Target Retirement 2020 Inv (VTWNX) June 30, 2015
* 5 Year look back, if 5 years is not available, a since inception time period is used.5.27
Product Name : Vanguard Tgt Ret2020;Inv (VTWNX)Fund Family : Vanguard Group IncTicker : VTWNXPeer Group : IM Mixed-Asset Target 2020 (MF)Benchmark : Vanguard Target 2020 Composite IndexFund Inception : 06/07/2006Portfolio Manager : Buek/Coleman/NejmanTotal Assets : $31,736 MillionTotal Assets Date : 05/31/2015Total Fee : 0.39%Turnover : 7%
Mutual Fund Details Relative Performance *
Individual Portfolio Statistics - 3 Years
Top Ten Holdings
3 Year Rolling Under/Over Performance * 3 Year Rolling Percentile Ranking (Return) *
Fund Objective
3 Year Rolling Percentile Ranking (Tracking Error) *
Cumulative Annualized Relative Performance Over/Under Performance
0.00
0.20
0.40
0.60
-0.20
-0.40
-0.60Re
turn
(%)
7/10 1/11 7/11 1/12 7/12 1/13 7/13 1/14 7/14 1/15 6/15
Vanguard Total Stock Market Index Fund;Investor 34.95 %Vanguard Total Bond Market II Index Fund;Investor 31.36 %Vanguard Total International Stock Index Fund;Inv 15.30 %Vanguard Total International Bond Index Fund;Inv 10.41 %Vanguard Sht-Term Inflation-Protected Sec Idx;Inv 7.97 %
The Fund seeks capital appreciation and current incomeconsistent with its current asset allocation. The Fund is a fund-of-funds with the asset allocation becoming more conservativeover time. The allocation strategy designed is for investorsplanning to retire in or within a few years of 2015.
Return StandardDeviation
SharpeRatio Beta R-Squared Tracking
ErrorInformation
Ratio Consistency UpCapture
DownCapture
Vanguard Target Retirement 2015 Inv (VTXVX) 8.81 4.71 1.81 1.01 1.00 0.28 -0.70 41.67 99.37 103.41Vanguard Target 2015 Composite Index 9.02 4.66 1.87 1.00 1.00 0.00 - 0.00 100.00 100.0090 Day US Treasury Bill 0.05 0.02 - 0.00 0.01 4.66 -1.87 30.56 0.30 -0.47
Over Under Sep-2010 Jun-2015
-8.0
0.0
8.0
16.0
24.0
ngua
rd Ta
rget
Retir
emen
t 20
15 In
v (V
TXVX
) (
-8.0 0.0 8.0 16.0 24.0
Vanguard Target 2015 Composite Index (%)
OverPerformance
UnderPerformance
Vanguard Target Retirement 2015 Inv (VTXVX)
Vanguard Target 2015 Composite Index
0
25
50
75
100
Retu
rn Pe
rcen
tile
Rank
9/10 6/11 3/12 12/12 9/13 6/14 6/15
Vanguard Target Retirement 2015 Inv (VTXVX)
0
25
50
75
100Tr
acki
ng Er
ror
Perc
entil
e Ra
nk9/10 6/11 3/12 12/12 9/13 6/14 6/15
Vanguard Target Retirement 2015 Inv (VTXVX) June 30, 2015
* 5 Year look back, if 5 years is not available, a since inception time period is used.5.28
Product Name : Vanguard Tgt Ret2015;Inv (VTXVX)Fund Family : Vanguard Group IncTicker : VTXVXPeer Group : IM Mixed-Asset Target 2015 (MF)Benchmark : Vanguard Target 2015 Composite IndexFund Inception : 10/27/2003Portfolio Manager : Buek/Coleman/NejmanTotal Assets : $22,673 MillionTotal Assets Date : 05/31/2015Total Fee : 0.39%Turnover : 10%
Mutual Fund Details Relative Performance *
Individual Portfolio Statistics - 3 Years
Top Ten Holdings
3 Year Rolling Under/Over Performance * 3 Year Rolling Percentile Ranking (Return) *
Fund Objective
3 Year Rolling Percentile Ranking (Tracking Error) *
Cumulative Annualized Relative Performance Over/Under Performance
0.00
0.20
0.40
0.60
-0.20
-0.40Re
turn
(%)
7/10 1/11 7/11 1/12 7/12 1/13 7/13 1/14 7/14 1/15 6/15
Vanguard Total Bond Market II Index Fund;Investor 36.22 %Vanguard Total Stock Market Index Fund;Investor 25.06 %Vanguard Sht-Term Inflation-Protected Sec Idx;Inv 14.22 %Vanguard Total International Bond Index Fund;Inv 13.51 %Vanguard Total International Stock Index Fund;Inv 11.01 %
The Fund seeks capital appreciation and current incomeconsistent with its current asset allocation. The Fund is a fund-of-funds with the asset allocation becoming more conservativeover time. The allocation strategy designed is for investorsplanning to retire in or within a few years of 2010.
Return StandardDeviation
SharpeRatio Beta R-Squared Tracking
ErrorInformation
Ratio Consistency UpCapture
DownCapture
Vanguard Target Retirement 2010 Inv (VTENX) 6.95 3.80 1.78 1.00 1.00 0.21 -0.82 41.67 99.05 102.62Vanguard Target 2010 Composite Index 7.14 3.79 1.83 1.00 1.00 0.00 - 0.00 100.00 100.0090 Day US Treasury Bill 0.05 0.02 - 0.00 0.00 3.79 -1.83 27.78 0.40 -0.48
Over Under Sep-2010 Jun-2015
-6.0
0.0
6.0
12.0
18.0
24.0
ngua
rd Ta
rget
Retir
emen
t 20
10 In
v (V
TEN
X) (
-6.0 0.0 6.0 12.0 18.0 24.0
Vanguard Target 2010 Composite Index (%)
OverPerformance
UnderPerformance
Vanguard Target Retirement 2010 Inv (VTENX)
Vanguard Target 2010 Composite Index
0
25
50
75
100
Retu
rn Pe
rcen
tile
Rank
9/10 6/11 3/12 12/12 9/13 6/14 6/15
Vanguard Target Retirement 2010 Inv (VTENX)
0
25
50
75
100Tr
acki
ng Er
ror
Perc
entil
e Ra
nk9/10 6/11 3/12 12/12 9/13 6/14 6/15
Vanguard Target Retirement 2010 Inv (VTENX) June 30, 2015
* 5 Year look back, if 5 years is not available, a since inception time period is used.5.29
Product Name : Vanguard Tgt Ret2010;Inv (VTENX)Fund Family : Vanguard Group IncTicker : VTENXPeer Group : IM Mixed-Asset Target 2010 (MF)Benchmark : Vanguard Target 2010 Composite IndexFund Inception : 06/07/2006Portfolio Manager : Buek/Coleman/NejmanTotal Assets : $7,134 MillionTotal Assets Date : 05/31/2015Total Fee : 0.39%Turnover : 13%
Mutual Fund Details Relative Performance *
Individual Portfolio Statistics - 3 Years
Top Ten Holdings
3 Year Rolling Under/Over Performance * 3 Year Rolling Percentile Ranking (Return) *
Fund Objective
3 Year Rolling Percentile Ranking (Tracking Error) *
Cumulative Annualized Relative Performance Over/Under Performance
0.00
0.08
0.16
0.24
-0.08
-0.16
-0.24Re
turn
(%)
7/10 1/11 7/11 1/12 7/12 1/13 7/13 1/14 7/14 1/15 6/15
Vanguard Total Bond Market II Index Fund;Investor 39.04 %Vanguard Total Stock Market Index Fund;Investor 20.75 %Vanguard Sht-Term Inflation-Protected Sec Idx;Inv 16.81 %Vanguard Total International Bond Index Fund;Inv 14.34 %Vanguard Total International Stock Index Fund;Inv 9.06 %
The Fund seeks to provide current income and some capitalappreciation The Fund is a fund-of-funds with an assetallocation strategy designed is for investors currently inretirement.
Return StandardDeviation
SharpeRatio Beta R-Squared Tracking
ErrorInformation
Ratio Consistency UpCapture
DownCapture
Vanguard Target Retirement Income Inv (VTINX) 5.35 3.29 1.59 1.01 1.00 0.21 -1.00 38.89 99.52 106.65Vanguard Target Income Comp Index 5.57 3.25 1.67 1.00 1.00 0.00 - 0.00 100.00 100.0090 Day US Treasury Bill 0.05 0.02 - 0.00 0.00 3.25 -1.67 30.56 0.48 -0.55
Over Under Sep-2010 Jun-2015
0.0
3.0
6.0
9.0
12.0
15.0
guar
d Ta
rget
Retir
emen
t In
com
e In
v (V
TIN
X)
0.0 3.0 6.0 9.0 12.0 15.0
Vanguard Target Income Comp Index (%)
OverPerformance
UnderPerformance
Vanguard Target Retirement Income Inv (VTINX)
Vanguard Target Income Comp Index
0
25
50
75
100
Retu
rn Pe
rcen
tile
Rank
9/10 6/11 3/12 12/12 9/13 6/14 6/15
Vanguard Target Retirement Income Inv (VTINX)
0
25
50
75
100Tr
acki
ng Er
ror
Perc
entil
e Ra
nk9/10 6/11 3/12 12/12 9/13 6/14 6/15
Vanguard Target Retirement Income Inv (VTINX) June 30, 2015
* 5 Year look back, if 5 years is not available, a since inception time period is used.5.30
Product Name : Vanguard Tgt Ret Inc;Inv (VTINX)Fund Family : Vanguard Group IncTicker : VTINXPeer Group : IM Mixed-Asset Target Today (MF)Benchmark : Vanguard Target Income Comp IndexFund Inception : 10/27/2003Portfolio Manager : Buek/Coleman/NejmanTotal Assets : $11,877 MillionTotal Assets Date : 05/31/2015Total Fee : 0.39%Turnover : 6%
Mutual Fund Details Relative Performance *
Individual Portfolio Statistics - 3 Years
Style Analysis - 3 Years
3 Year Rolling Under/Over Performance * 3 Year Rolling Percentile Ranking (Return) *
Fund Objective
3 Year Rolling Percentile Ranking (Tracking Error) *
Cumulative Annualized Relative Performance Over/Under Performance
0.00
2.00
4.00
6.00
-2.00
-4.00Re
turn
(%)
7/10 1/11 7/11 1/12 7/12 1/13 7/13 1/14 7/14 1/15 6/15
Style History Jun-2015 Avg. Exposure
Capi
taliz
atio
n
Manager Style
Large Cap Growth
Small Cap GrowthSmall Cap Value
Large Cap Value
The Fund seeks capital appreciation by investing principally inthe equity securities of companies in the health care industry.
Return StandardDeviation
SharpeRatio Beta R-Squared Tracking
ErrorInformation
Ratio Consistency UpCapture
DownCapture
Vanguard Health Care Adm (VGHAX) 30.19 9.02 2.99 0.92 0.88 3.15 0.72 50.00 105.88 80.14S&P 500 Health Care 27.31 9.19 2.69 1.00 1.00 0.00 - 0.00 100.00 100.0090 Day US Treasury Bill 0.05 0.02 - 0.00 0.03 9.20 -2.69 25.00 0.14 -0.45
Over Under Sep-2010 Jun-2015
-15.0
0.0
15.0
30.0
45.0
Vang
uard
Hea
lth Ca
re Ad
m (V
GH
AX)
(%
)
-15.0 0.0 15.0 30.0 45.0
S&P 500 Health Care (%)
OverPerformance
UnderPerformance
Vanguard Health Care Adm (VGHAX) S&P 500 Health Care
0
25
50
75
100
Retu
rn Pe
rcen
tile
Rank
9/10 6/11 3/12 12/12 9/13 6/14 6/15
Vanguard Health Care Adm (VGHAX)
0
25
50
75
100Tr
acki
ng Er
ror
Perc
entil
e Ra
nk9/10 6/11 3/12 12/12 9/13 6/14 6/15
Vanguard Health Care Adm (VGHAX) June 30, 2015
* 5 Year look back, if 5 years is not available, a since inception time period is used.5.31
Product Name : Vanguard Health Care;Adm (VGHAX)Fund Family : Vanguard Group IncTicker : VGHAXPeer Group : IM Health/Biotech Sector (MF)Benchmark : S&P 500 Health CareFund Inception : 11/12/2001Portfolio Manager : Jean M. HynesTotal Assets : $39,281 MillionTotal Assets Date : 05/31/2015Total Fee : 0.52%Turnover : 20%
Mutual Fund Details Relative Performance *
Individual Portfolio Statistics - 3 Years
Style Analysis - 3 Years
3 Year Rolling Under/Over Performance * 3 Year Rolling Percentile Ranking (Return) *
Fund Objective
3 Year Rolling Percentile Ranking (Tracking Error) *
Cumulative Annualized Relative Performance Over/Under Performance
0.00
0.56
1.12
1.68
-0.56
-1.12
-1.68Re
turn
(%)
7/10 1/11 7/11 1/12 7/12 1/13 7/13 1/14 7/14 1/15 6/15
Style History Jun-2015 Avg. Exposure
Qua
lity
Duration
Long Treasury
Long CreditIntermediate Credit
Intermediate Treasury
The Fund seeks to provide a high level of income consistentwith the maintenance of principal and liquidity by investingprimarily in investment grade corporate bonds with expectedaverage maturities of 5-10 years.
Return StandardDeviation
SharpeRatio Beta R-Squared Tracking
ErrorInformation
Ratio Consistency UpCapture
DownCapture
Vanguard Interm Term Invest Grade Adm (VFIDX) 3.18 3.59 0.88 0.80 0.98 1.01 -0.52 38.89 80.87 76.73Barclays US Credit 5-10 Year Idx 3.69 4.45 0.82 1.00 1.00 0.00 - 0.00 100.00 100.0090 Day US Treasury Bill 0.05 0.02 - 0.00 0.02 4.45 -0.82 41.67 0.45 -0.38
Under Sep-2010 Jun-2015
0.0
4.0
8.0
12.0
16.0
guar
d In
term
Term
Inve
st G
rade
Adm
(VFI
DX)
0.0 4.0 8.0 12.0 16.0
Barclays US Credit 5-10 Year Idx (%)
OverPerformance
UnderPerformance
Vanguard Interm Term Invest Grade Adm (VFIDX)
Barclays US Credit 5-10 Year Idx
0
25
50
75
100
Retu
rn Pe
rcen
tile
Rank
9/10 6/11 3/12 12/12 9/13 6/14 6/15
Vanguard Interm Term Invest Grade Adm (VFIDX)
0
25
50
75
100Tr
acki
ng Er
ror
Perc
entil
e Ra
nk9/10 6/11 3/12 12/12 9/13 6/14 6/15
Vanguard Interm Term Invest Grade Adm (VFIDX) June 30, 2015
* 5 year look back, if 5 years is not available, a since inception time period is used.5.32
Product Name : Vanguard Int-Tm Inv;Adm (VFIDX)Fund Family : Vanguard Group IncTicker : VFIDXPeer Group : IM U.S. Intermediat Invest Grade (MF)Benchmark : Barclays US Credit 5-10 Year IdxFund Inception : 02/12/2001Portfolio Manager : Auwaerter/NassourTotal Assets : $17,168 MillionTotal Assets Date : 05/31/2015Total Fee : 0.33%Turnover : 88%
Mutual Fund Details Relative Performance *
Individual Portfolio Statistics - 3 Years
Style Analysis - 3 Years
3 Year Rolling Under/Over Performance * 3 Year Rolling Percentile Ranking (Return) *
Fund Objective
3 Year Rolling Percentile Ranking (Tracking Error) *
Cumulative Annualized Relative Performance Over/Under Performance
0.00
0.70
1.40
2.10
-0.70
-1.40
-2.10Re
turn
(%)
7/10 1/11 7/11 1/12 7/12 1/13 7/13 1/14 7/14 1/15 6/15
Style History Jun-2015 Avg. Exposure
Qua
lity
Duration
Long Treasury
Long CreditIntermediate Credit
Intermediate Treasury
The Fund seeks to maximize real return consistent withpreservation of real capital and prudent investmentmanagement. The Fund is an actively managed bond portfoliothat invests primarily in inflation indexed securities.
Return StandardDeviation
SharpeRatio Beta R-Squared Tracking
ErrorInformation
Ratio Consistency UpCapture
DownCapture
PIMCO Real Return Inst (PRRIX) -0.90 5.94 -0.13 1.14 0.98 1.14 -0.09 63.89 115.22 115.23Barclays US Treasury: US TIPS -0.76 5.15 -0.13 1.00 1.00 0.00 - 0.00 100.00 100.0090 Day US Treasury Bill 0.05 0.02 - 0.00 0.04 5.15 0.13 41.67 0.57 -0.24
Over Under Sep-2010 Jun-2015
-5.0
0.0
5.0
10.0
15.0
20.0
PIM
CO Re
al Re
turn
Inst
(PRR
IX)
(%)
-5.0 0.0 5.0 10.0 15.0 20.0
Barclays US Treasury: US TIPS (%)
OverPerformance
UnderPerformance
PIMCO Real Return Inst (PRRIX) Barclays US Treasury: US TIPS
0
25
50
75
100
Retu
rn Pe
rcen
tile
Rank
9/10 6/11 3/12 12/12 9/13 6/14 6/15
PIMCO Real Return Inst (PRRIX)
0
25
50
75
100Tr
acki
ng Er
ror
Perc
entil
e Ra
nk9/10 6/11 3/12 12/12 9/13 6/14 6/15
PIMCO Real Return Inst (PRRIX) June 30, 2015
* 5 year look back, if 5 years is not available, a since inception time period is used.5.33
Product Name : PIMCO:Real Return;Inst (PRRIX)Fund Family : PIMCOTicker : PRRIXPeer Group : IM U.S. TIPS (MF)Benchmark : Barclays US Treasury: US TIPSFund Inception : 01/29/1997Portfolio Manager : Worah/BanetTotal Assets : $7,038 MillionTotal Assets Date : 05/31/2015Total Fee : 0.68%Turnover : 117%
Rolling Relative Performance Comparative Performance
Credit Quality Distribution Sector Distribution (%) Portfolio Attributes
Rolling 1 Year Cumulative Over/Under Relative Performance
Over/Under Relative Performance
0.0
1.0
2.0
3.0
4.0
-1.0
Retu
rn (%
)
9/10 3/11 9/11 3/12 9/12 3/13 9/13 3/14 9/14 6/15
VALIC Fixed Interest Option (3.00%) 90 Day US Treasury Bill
0.0
0.8
1.6
2.4
3.2
4.0
Retu
rn
3 Month CYTD 1 Year 3 Year 5 Year
0.0 0.0 0.0 0.1 0.1
0.7
1.5
3.0 3.0 3.1
0.0
10.0
20.0
30.0
40.0
50.0
Go vt/Age ncy
AAA AA A
B BB
<B BB
9.0 8.0
22.0
15.0
34.0
12.0
0.0
15.0
30.0
45.0
60.0
G over nme nts
Agen cies
No n-US
Go vt
AB S/CM
B S/CMOs
Co rpor ates
Mun is
Effective Duration 5.00Avg. Quality A-
Fund Assets ($Mil) 42,050
VALIC Fixed Interest Option (3.00%) June 30, 2015
*Due to a lag in reporting for the VALIC Fixed Interest Account, portfolio details reflect previous quarter-end information.
5.34
Backdated Performance HistoryAs of June 30, 2015
Performance for the following funds has been backdated with share classes that offer a longer performance history.
Fund NameCurrent Ticker
Current Share Class
Current Share Class Inception Date
Current Share ClassEffective Dates
Prior Ticker
Prior Share Class
Prior Share ClassEffective Dates
Neuberger Berman Real Estate NBRIX Inst 6/4/2008 Jul 1, 2008 - Present NBRFX Trust Inception - Jun 30, 2008
Fund NameCurrent Ticker
Current Share Class
Current Share Class Inception Date
Current Share ClassEffective Dates
Prior Ticker
Prior Share Class
Prior Share ClassEffective Dates
American Funds Fundamental Investor RFNGX R6 5/1/2009 Jun 1, 2009 - Present RFNFX R5 Inception - May 31, 2009American Funds American Mutual RMFGX R6 5/1/2009 Jun 1, 2009 - Present RMFFX R5 Inception - May 31, 2009American Funds American Balanced RLBGX R6 5/1/2009 Jun 1, 2009 - Present RLBFX R5 Inception - May 31, 2009MFS Massachusetts Inv Growth Stock MIGNX R5 6/1/2012 Jul 1, 2012 - Present MIGHX R3 May 1, 2005 - Jun 30, 2012
MIGFX A Inception - Apr 30, 2005Oppenheimer International Growth OIGIX Inst 3/29/2012 Apr 1, 2012 - Present OIGAX A Inception - Mar 30, 2012Vanguard Emerging Markets Stock Index VEMAX Admiral 6/23/2006 Oct 1, 2014 - Present VERSX Signal Inception - Sep 30, 2014
South Carolina State ORP
TIAA-CREF
VALIC
Term Description
Simple Alpha The arithmetic difference between the portfolio's return and the benchmark's return.(Excess or Relative Return)
Alpha A measure of the difference between a portfolio's actual returns and its expected performance, given its level of risk asmeasured by beta. It is a measure of the portfolio's historical performance not explained by movements of the market,or a portfolio's non-systematic return.
Asset Allocation Effect In attribution analysis, the incremental return attibutable to diverging from the target weights of the policy benchmarkholding all other factors constant.
Beta Also called systematic risk or non-diversifiable risk, beta measures the sensitivity of asset returns to the market (benchmark). Inisolation a lower beta is considered less risky but does not distinguish between upside and downside risk.
Consistency The percentage of periods that a product achieved a rate of return higher than that of its benchmark. The higher theconsistency figure, the more value a manager has contributed to the product's performance.
Down Market Capture The ratio of average portfolio return over the benchmark during periods of negative benchmark return. Lower valuesindicate better product performance.
Excess Risk A measure of the standard deviation of a portfolio's performance relative to the risk free return.
Information Ratio Measured by dividing the active rate of return by the tracking error. The higher the Information Ratio,the more value-added contribution by the manager. Negative Information Ratios are difficult to interpret.
Manager Value-Added In attribution analysis, the incremental return attributable to active management; the result of diverging from the(Selection Effect) benchmark allocation within a given asset class.
Market Timing / Other In attribution analysis, represents the impact of intra-period shifts in asset allocation. For example a rapidlyappreciating asset could have markedly different weights throughout the analysis period (which looks at fixed pointsin time).
Glossary
Glossary
R-Squared The percentage of portfolio performance explained by the performance of its benchmark; measured on a scale of 0 to 100,with 100 indicating that the portfolio's performance is entirely determined by the benchmark.
Sharpe Ratio Also called the reward-to-variability ratio, Sharpe Ratio measures the absolute rate of return per unit of risk and is calculated asthe Excess Return vs. the Risk Free Rate divided by the standard deviation of the Excess Return. Investors prefer higher SharpeRatios (more return per unit of risk).
Standard Deviation Typically referred to as Volatility or Risk, standard deviation measures the dispersion of actual returns around their average.
Tracking Error A measure of the standard deviation of a portfolio's performance relative to the performance of an appropriate marketbenchmark.
Treynor Ratio Similar to Sharpe ratio, but focuses on beta rather than excess risk (standard deviation). Represents the excess rate of returnover the risk free rate divided by the beta. The result is the absolute rate of return per unit of risk. The higher the value, thebetter the product's historical risk-adjusted performance.
Up Market Capture The ratio of average portfolio return over the benchmark during periods of positive benchmark return. Higher valuesindicate better product performance.
Summit Strategies Group (Summit) has prepared this report for the exclusive use by the client for which it was prepared. The information herein was obtained from various sources, such as the client's custodian(s)accounting statements, commercially available databases, and other economic and financial market data sources. While Summit believes these sources to be reliable, Summit does not guarantee nor shall be liable for themarket values, returns or other information contained in this report. The market commentary, portfolio holdings and characteristics are as of the date shown and are subject to change. Past performance is not anindication of future performance. No graph, chart, or formula can, in and of itself, be used to determine which securities or investments to buy or sell. Any forward-looking projection contained herein is based onassumptions that Summit believes may be reasonable, but are subject to a wide range of risks, uncertainties, and the possibility of loss. Accordingly, there is no assurance that any estimated performance figures willoccur in the amounts and during the periods indicated, or at all. Actual results and performance will differ from those expressed or implied by such forward-looking projections. Any information contained in this report isfor informational purposes only and should not be construed to be an offer to buy or sell any securities, investment consulting, or investment management services.
DISCLAIMER